During the third quarter of 2022, the US Steel Rebar prices fell due to the limited buying sentiments. Market participants believe supply chain disruptions caused by price increases in July weighed on buyer spending. Buyers claim that June's most recent drops in ferrous pricing fuelled speculation that the market reached the bottom. Unfortunately for ferrous scrap sellers, later bids from overseas buyers and sluggish domestic buying in the early quarter governed the price dynamics of Steel wire rods. Furthermore, US Steel Wire Rod Price had significantly impacted weak downstream demand, cautious service center purchasing, and persistently high inventory supply. Towards the quarter's end, the price of Steel wire rod was USD 1548 per MT, Ex-Texas (USA).

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