We are seeing a leveling-off of wire prices over the past couple months. This trend is great news for us and our customers, and we hope that it will continue.
Part of the reason that prices have become stable is that foreign wire has become more attractive as domestic wire becomes more expensive. Domestic prices have grown so high that the price of foreign steel is comparable, even with the 25% tariff on imported steel. This fact may be why domestic rod suppliers have stopped pushing increases on their customers.
While a price decrease is unlikely, suppliers have indicated that there is reason to believe that prices have at least stabilized for the foreseeable future.
Allocation and availability issues are still a problem for wire customers, but Tennessee Spring and Metal seems to be covered for the time being. Lead times are also slowly increasing, as demand remains strong for domestic wire.