American Metal Market’s price assessment for domestic industrial-quality low-carbon wire rod
increased on Wednesday April 25 to $38-40 per hundredweight, from $37-39 per cwt two weeks ago. The high-carbon wire rod price
rose to $40 per cwt on the same day, from $39.50 per cwt previously.
Buyers and traders saw prices in a range of $38.60-40.75 per cwt, typically for June rolling, because bookings are full at many mills for April and most of May.
“All the [price] increases have been successful, and in some cases we have received more in cost increases than [was indicated in] the letters [sent to customers],” one wire rod buyer said.
“They don’t give you an explanation as to why,” this buyer said. “They basically say, ‘For such-and-such rolling, our new...