Steel wire rod prices rise, demand tepid

Aug 02, 2013 | 04:10 PM | Samuel Frizell

Tags  Wire rod, steel wire, construction, shredded scrap, weather, low carbon, high carbon, Samuel Frizell

NEW YORK — Wire rod prices have risen at least $10 per ton for most grades for August shipment following an increase in July scrap prices, with rod mills passing much of their higher input costs on to their customers.

Rod buyers whose prices are fixed to a scrap cost index swallowed the full increase in scrap prices. Chicago buying prices for shredded automotive scrap, the raw material input used for lower-carbon grades of wire rod, rose $16 per ton in July (, July 3).....

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