Wire rod buyers eye offshore material

Mar 29, 2013 | 02:12 PM | Samuel Frizell

Tags  Wire rod, wire fabricators, price increases, Nucor Corp., ArcelorMittal, imports, Samuel Frizell

NEW YORK — U.S. wire rod mills are digging in their heels on the most recent price increases, but as domestic prices gain traction, more buyers report that they’re looking to overseas suppliers to meet their needs.

In March, domestic steel mills announced wire rod price hikes for April 1 shipments, with Nucor Corp. and ArcelorMittal USA LLC leading the way at up $40 per ton ($2 per hundredweight) and other mills following at up $35 per ton ($1.75 per cwt).

A portion of the increases appear to have stuck, with sources this past week reporting mesh-quality low-carbon wire rod prices at $690 per ton ($34.50 per cwt) f.o.b. mill, industrial-quality low-carbon rod at $710 per ton ($35.50 per cwt), high-carbon wire rod at $735 per ton ($36.75 per cwt) and cold-heading quality material at $790 per ton ($39.50 per cwt). That marks an increase of $30 per ton ($1.50 per cwt) on all products, although some reported a little negotiating room. ....

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