During the last week of November USA and China, Steel Wire Rod prices dipped as elevated inventories and low demand from downstream industries. Meanwhile, Germany maintained Steel Wire Rod price stability thanks to balanced supply-demand conditions and consistent production levels.
The USA Steel Wire Rod market encountered a tough landscape, with prices falling to USD x,xxx per metric ton in Texas, marking a weekly decrease of x.xx. Additionally, elevated inventory levels and heightened competition from imported materials weighed heavily on domestic producers. Furthermore, weak demand from key sector like construction, combined with global economic uncertainties, further contributed to the subdued market conditions. Moreover, the supply of Steel Wire Rod in the USA remains excessive, with domestic production outpacing demand. According to the American Iron and Steel Institute (AISI), domestic raw steel production for the week ending in late November totalled x.xxx million net...
