Snowstorm affects American wire rod production & sales
23 Feb 2021 15:22 reported by Isora
Last week, wire rod prices in the American market remained stable. Although there was still room for the price increase, some of the factories had to reduce their production and offer due to the snowstorm.
Meanwhile, the bad weather also caused difficulty on transportation works, as well as leading to a suspension of rolling machines.
Since the delivery time become longer, steel mills decide to maintain the current wire price level despite the dropping scrap price.
According to insiders, although there are several quotations offered from foreign countries, buyers are not so interested due to the long delivery time and high prices.
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