Wire rod price hikes tenuous: buyers

Jul 19, 2013 | 12:01 PM | Samuel Frizell

Tags  Steel wire rod, wire, mesh, construction, automotive, rod sales, industrial-quality wire rod, Samuel Frizell

NEW YORK — Domestic steel wire rod mills have already announced to many of their customers that they are raising rod prices for August shipments, but rod buyers are skeptical the increases will stick as many this past week said they successfully squeezed out prices from suppliers at lower July shipment quotes.

"People saw the increase and they were able to jump onto July (rolling) schedules," a wire rod buyer on the East Coast said. "Everyone’s taking advantage of short lead times."

AMM’s wire rod prices remained unchanged this past week, with mesh-quality rod transacting at around $640 per ton ($32 per hundredweight) f.o.b. mill, industrial-quality wire rod selling at $650 per ton ($32.50 per cwt), high-carbon wire rod trading around $700 per ton ($35 per cwt) and cold-heading quality selling at $740 per ton ($37 per cwt). ....

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