Rod market fails to secure full price increase

Dec 13, 2012 | 05:18 PM | Catherine Ngai

Tags  wire rod, mesh, steel prices, fiscal cliff, China, Catherine Ngai

NEW YORK — Wire rod prices have risen in recent weeks but a slowdown in demand and pressure from imports have prevented price hikes from being fully realized, sources said.

A round of $50- to $55-a-ton price hikes initiated last month helped push some transaction prices higher but buyers reported that quiet end markets, a lack of real demand and fiscal uncertainty prevented mills from achieving the full amount (amm.com, Nov. 14).
Mesh-quality low-carbon wire rod prices transacted at $33.50 per hundredweight ($670 per ton), up from November prices of $32.25 per cwt ($645 per ton), while industrial-quality low-carbon rod transacted at $34 per cwt ($690 per ton), up from $32.60 per cwt ($652 per ton). High-carbon wire rod prices have inched up to $35.25 per cwt ($705 per ton) from $34.90 per cwt ($698 per ton), while cold-heading quality rod is up to $38 per cwt ($760 per ton) from $36 per cwt ($720 per ton). ....