Prices for cold-heading quality (CHQ) and high-carbon wire rod declined in the United States after costs for raw materials fell and buyers grew more confident that they'll enjoy an abundance of supply from producers.
Fastmarkets AMM's monthly pricing assessment for cold-heading quality wire rod dropped to $43.50 per hundredweight ($870 per short ton) North American delivered duty paid Great Lakes region on Friday May 17, from $45 per cwt ($900 per ton) on April 22. The pricing assessment for high-carbon wire rod slipped to $38.50 per cwt ($770 per ton) fob mill from $39.50 per cwt ($790 per ton) last month. Inventory overhangs persist throughout the wire rod supply chain, according to market participants. Producers have availability and have been willing to compete on price to...