July 2012 | North American Steels
Wire rod markets vary depending on product: Long Products Highlights
Beam market faces subdued construction demand, prices vulnerable to scrap price plunge.
With North American light vehicle and heavy duty truck output staying strong, cold-heading quality wire rod is not experiencing the same downward pricing pressure as the industrial-quality wire rod used largely in construction applications. This is not to say that the market has not softened at all or that it could not soften a little further, especially given all the uncertainty about the future direction of the global and domestic economy with the financial turmoil in Europe, weakening of demand in Asia and political gridlock in Washington.
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Cold-heading quality wire rod prices are holding at about $760/ton after having fallen about $30/ton last month. Prices could experience further declines in...
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