Keystone hikes wire rod tags $60/T for January as scrap leaps

Dec 06, 2010 | 11:26 AM | Lisa Gordon

Wire rod makers are likely to meet resistance to hikes, market sources said, as Keystone Steel & Wire Co. jumped out of the gate with a rod increase that surpasses a just settled boost in the scrap surcharge.

These sources noted that they see lackluster demand on the horizon.

Peoria, Ill.-based Keystone advised customers that it will raise prices on wire rod by $60 per ton ($3 per hundredweight) effective with Jan. 1 shipments. It cited "a rapid escalation of scrap and other commodities" as the reason for the increase.....

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