Due to the slack demand and declining shredded scrap price, U.S. domestic wire rod price continued to fall.
Market participants said that the price will decline further in May and June.
As for the import, Turkey offered US$474-496/ton for wire rod, down by US$22/ton on last week and some buyers said some spot price could be transacted at US$441/ton.
Although the official price remained unchanged, the low-carbon wire rod price stood at US$551-573/ton (ex. mill); actually, the real domestic price has fallen to a low level.
It is said that the price maybe continued to go down while the demand probably has reached the bottom. Source: Yieh.com
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Monday, April 13, 2009
10:59 |
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