Wire rod market said unlikely to support a rise

Oct 23, 2013 | 06:20 PM | Samuel Frizell

Tags  Nucor Corp., wire rod, price increase, demand, mills, Samuel Frizell

NEW YORK — The wire rod market is unlikely to support a price increase, given current fundamentals, mill and buyer sources told AMM after Nucor Corp. announced a price hike Oct. 21.

Wire rod prices have softened over the last several months, with mesh-quality wire rod dropping to around $630 per ton (31.50 per hundredweight) in October from around $650 per ton ($32.50 per cwt) in August. ....

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