As of the week ending February 14, the global Steel Wire Rod market is experiencing divergent price movements across key regions. While the United States maintains stability, Germany and China face price declines due to shifting market dynamics.

Prices for Steel Wire Rod in the USA remain steady, a situation that can be attributed to consistent production levels and stable demand, reflecting a well-balanced market environment. Additionally, US steelmakers have successfully maintained reliable output of Steel Wire Rod, ensuring that production meets domestic requirements. Moreover, import and export dynamics have not presented significant challenges, as local manufacturers are effectively fulfilling most of the demand without relying on foreign sources. On the demand side, the US Steel Wire Rod market benefits from ongoing industrial activities that show moderate growth across various sectors. Although downstream industries are gradually expanding, the overall demand for Steel Wire Rod products has remained stable.

Prices for Steel Wire Rod in Germany have experienced a slight decline of 0.3%, influenced by challenges in the supply and demand imbalance. A significant factor contributing to this weakening demand is the decrease in new passenger car registrations in January 2025, as reported by the Federal Motor Vehicle Office (KBA). With consumer spending constrained by economic uncertainty, the automotive industry is feeling the impact, resulting in reduced material demand. Additionally, the German Steel Federation (WV Stahl) has cited rising energy costs and an influx of low-cost imports from China as substantial concerns, which have rendered domestic production less competitive. Furthermore, the market is witnessing an increase in supply dynamics, bolstered by ArcelorMittal’s investment in a new facility in Alabama, as well as an uptick in raw steel production seen in early February. Consequently, the ongoing imbalance between supply and demand has led to a decrease in Steel Wire Rod prices.

Prices for Steel Wire Rod in China have decreased by 1.8%, driven by various supply and demand factors. Following the Lunar New Year celebrations, inventories have risen, aligning with levels seen in the previous year. This increase suggests that manufacturers are proactively managing production in response to seasonal demand fluctuations. Furthermore, technological advancements are enhancing production capabilities, as demonstrated by Yukun Iron and Steel Group's success in producing 145 mm-thick slabs at its state-of-the-art facility. On the demand side, several key downstream sectors are exhibiting signs of weakness. Notably, the new energy vehicle (NEV) market experienced a substantial decline in January sales, with wholesale figures decreasing significantly. All these factors collectively resulting in decrease in prices of Steel Wire Rod within the Chinese domestic market.

According to ChemAnalyst, prices for Steel Wire Rod in the US are likely to remain stable, supported by a balance in supply and demand dynamics. In contrast, prices for Steel Wire Rod in Germany and China may experience a decline due to reduced purchasing activity in those regions.