April 2012 | North American Steels
Wire rod prices flat to slightly down: Long Product Highlights
Wire rod prices are stable to lower as scrap prices decline and imports rise
Attempts by US wire rod mills about a month ago to hike prices in the beginning of April by approximately $20/ ton have largely failed due to a combination of continued weakness in the construction sector, increased imports and declining ferrous scrap prices. In fact some buyers say that the price move, led by Keystone Steel & Wire and immediately follow by such other mills including ArcelorMittal, Charter Steel and Gerdau North America helped contribute to the increased imports from both China and Turkey given the resultant widened gap between import and domestic pricing.
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