Declining raw material costs and continued weak demand have worked in tandem to cause cold-heading quality (CHQ) and high carbon wire rod prices to drop, sources told Fastmarkets.
Fastmarkets' assessment for steel wire rod cold-heading quality, ddp settled at $36.50 per hundredweight ($730 per short ton) on Friday July 17, down 5.2% from $38.50 per cwt last month.The cost of steel scrap No1 busheling, delivered mill Chicago, a key feedstock material for CHQ wire rod...