Wire rod prices remain flat in the United States for both domestic and imported material, although downward pressure has emerged in January from declining raw material costs and weakening demand.
Fastmarkets' assessment for industrial quality low-carbon rod held at $39.25-41.25 per hundredweight ($785-825 per short ton) fob mill on Tuesday January 15, with imported wire rod steady at $744-762 per ton cfr port of Houston.No signs of November mill hikes taking holdNucor Corp, Optimus Steel, Commercial Metals Co and Keystone Steel & Wire announced price increases of $30 per ton ($1.50 per cwt) in November, and sources who spoke with Fastmarkets indicated that those increases have not impacted spot market prices this month. There is no sign of November's mill price increases taking effect, one distributor said, adding that "there are a few deals out there" in the spot market. "I have not heard about them going through," a trader said."Demand isn't good, that's why some people are getting discounts," a second trader said.This source heard from customers that discounts were...