Market mixed on recent rod price hikes
Nov 14, 2012 | 04:36 PM
| Michael Cowden
Tags
wire rod,
price increase,
Gerdau Long Steel North America,
imports,
automotive,
scrap,
demand,
steel
long products
CHICAGO — After taking a dip this month, wire rod prices appear poised to reverse course in December, although market sources differ on how much and for how long the recently announced increases might stick.
Tampa, Fla.-based Gerdau Long Steel North America was the latest domestic mill to throw its weight behind a recent round of price increases (amm.com, Nov. 13). The steelmaker said in a letter to customers Wednesday that it plans to boost prices on all wire rod products from its Beaumont, Texas, and Jacksonville, Fla., mills effective with Dec. 1 shipments. Most grades of wire rod will see an increase of $50 per ton ($2.50 per hundredweight), while tags for cold-heading quality rod are slated to move up $55 per ton ($2.75 per cwt).....
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