This is what I was thinking:
There's this cheerleader/beautiful girl and a lot of guys want her. They are suffering ("drowning in fire") because they can't have her, and she likes it ("semen tastes like gunmetal").
He (the storyteller) also is lusting after the girl and abuses substances ("the pills I take" / "swallowing you") to try and get over it when he's feeling depressed (in "the witching hour").
I'm not totally sure about the "reaching for the rungs of my ribcage" bit - maybe he knew some of her lovers?
Maybe I'm trying to relate this to my own experiences too much, but that's just what I took from it.
This is what I was thinking: There's this cheerleader/beautiful girl and a lot of guys want her. They are suffering ("drowning in fire") because they can't have her, and she likes it ("semen tastes like gunmetal"). He (the storyteller) also is lusting after the girl and abuses substances ("the pills I take" / "swallowing you") to try and get over it when he's feeling depressed (in "the witching hour").
I'm not totally sure about the "reaching for the rungs of my ribcage" bit - maybe he knew some of her lovers?
Maybe I'm trying to relate this to my own experiences too much, but that's just what I took from it.