Steel Wire Insider - Scrap Prices Send USA Wire Rod Market on a Price Rollercoaster

摘要

Within weeks of the June wire rod transaction price decrease announcement, domestic spot prices fell by approximately US$20et ton (US$1.00 cwt.), and the pressure to drop prices further only increased as predictions spread of another scrap drop in July. If the scrap decrease was moderate, sources believed mills might be able to prevent spot prices from slipping further. But the eventual US$40-US$50/long ton decline in shredded scrap prices wiped away any hope for price stability. As of mid-July 2012, mills had still not announced their direction regarding wire rod transaction prices, but the general sentiment was that prices would officially come down about US$20et ton - another halfway move that would likely be threatened by weak demand and slipping import prices.