Both cold-heading quality (CHQ) and high-carbon (HC) wire rod prices have fallen due to declining raw material costs and a downturn in demand due to the Covid-19 pandemic, Fastmarkets has learned.
Fastmarkets' price assessment for steel wire rod cold-heading quality, ddp settled at $36 per hundredweight ($720 per short ton) on Friday April 17, down by 4% from $37.50 per cwt during the previous month. In Chicago, the cost of steel scrap No1 busheling, a key feedstock material in the production of CHQ wire rod, declined by $30 per gross ton at the conclusion of...