US wire rod price up; mill increases halt declines

Domestic wire rod prices in the United States have risen following mid-November increase announcements from US mills, while imported wire rod prices have widened lower.

Fastmarkets’ assessment for steel wire rod (low carbon) industrial quality, fob mill US rose to $29-30 per hundredweight ($580-600 per short ton) on Tuesday November 19, up by 1.7% from $28.50-29.50 per cwt in mid-October but still down by 26.7% from $39.25-41.25 per cwt in November 2018. Fastmarkets’ assessment for steel wire rod (low carbon) import, ddp Houston moved slightly lower to $570-600 per ton ($28.50-30 per cwt) on Tuesday from $580-600 per ton on October 15. Lead times for industrial-quality wire rod were around three to six weeks, sources said, and US rod buyers remained unconcerned about availability. US outlook A round of $25-per ton price increases implemented by Nucor, Liberty Steel, and Commercial Metals...

Published

Patrick Fitzgerald

November 20, 2019

23:20 GMT

New York