US wire rod prices increase after scrap, electrode costs rise

US wire rod prices have risen, with the December jump in scrap costs exerting more influence than mills' latest price-increase letters thus far, according to market participants.

American Metal Market's assessment of domestic industrial-quality, low-carbon wire rod climbed $1 per hundredweight ($20 per ton) to a range of $31-32 per cwt ($620-640 per ton) on Wednesday December 13, from $30-31 per cwt ($600 to $620 per ton) on November 21. American Metal Market's assessment of domestic high-carbon wire rod also rose by $1 per cwt ($20 per ton) to $33-34 per cwt ($660-680 per ton). Rod mills generally have signaled the desire to...

Published

Dom Yanchunas

December 14, 2017

18:15 GMT

New York