US domestic wire rod prices inch upward on tight supply

Domestic wire rod prices in the United States have increased even in the absence of recent price rises, with mills able to achieve higher prices in a market short on supply.

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...

Published

April 26, 2018

20:15 GMT

New York