Wire rod increases seen unlikely to stick
Feb 06, 2014 | 04:56 PM
| Stacy Irish
NEW YORK Wire rod market participants doubt that Gerdau Long Steel North America, Keystone Steel & Wire Co. and Nucor Corp. will be able to pass along recent price increases to domestic consumers due to lackluster demand, plentiful supply and competition from cheaper imports from China, wire rod market sources told AMM.
Charlotte, N.C.-based Nucor raised transaction prices on all wire rod products by $23 per ton ($1.15 per hundredweight) effective with shipments Feb. 1, the company said in a Jan. 15 letter to customers (amm.com, Jan. 16).
Keystone also increased wire rod by $23 per ton effective with shipments Feb. 1, the company said in a Jan. 16 letter to customers (amm.com, Jan. 21), while Tampa, Fla.-based Gerdau lifted wire rod products by $25 per ton ($1.25 per cwt) effective the same date, the company said in a Jan. 17 letter to customers (amm.com, Jan. 17).....
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