October 07, 2008

US wire rod market strengthens

YIEH reported that due to factors like tight supply quantity, rising scrap price and high imported wire rod price, people expect wire rod price to soar in the US market and buyers will have no choice but to accept for the new price level.

Last week, the wire rod price had already risen by USD 33 per ton and the price keeps climbing strongly. The low carbon wire rod price is about USD 827 to USD 849 per ton, high carbon wire rod price is about USD 882 to USD 904 per ton and the wire mesh usage wire rod price is about USD 805 to USD 827 per ton now in the US domestic market.

So far, the demand in the US market is not strong; however, wire mills will still announce the new higher wire price for April and May shipments.

(Sourced from YIEH.com)