US steel wire rod prices move lower with scrap drop

摘要

Wire rod prices in the US softened on July 17 on the heels of lower shredded scrap prices for July.On July 17, S&P Global Platts' weekly Midwest mesh quality wire rod assessment was $570-$590/st ex- works, down from $580-$600/st the previous week. Sources had anticipated lower wire rod prices in the wake of the July scrap buy week, which saw shredded scrap prices decrease by $20/lt in the Midwest. "In construction, demand is slow," said one Southern buyer, who noted little change over the past couple of weeks but believed general economic conditions were likely to spread to the wire rod market.