Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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January 2019 | North American Steels


US long product prices remain flattish but are facing downward pressure: US Long Product Highlights


US industrial wire rod prices have held steady at $805 per ton and we believe that they will remain at or close to that price at least over the near term, although they could slip slightly if scrap continues to be soft and if the construction sector continues to see slower than previously anticipated growth.

Optimism that US steel long product prices could see a slight bump in the new year has seemed to fade for just about all products other than possibly cold heading quality (CHQ) wire rod, which is almost exclusively sold on a contract basis and saw its 2019 contract prices step up $80-100 per ton. But even CHQ rod spot base prices haven’t yet budged from where they were last month at $855 per ton, although it will likely move up in coming weeks given that historically it follows the contract prices. But even CHQ rod transaction prices will likely be tempered by...

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