Wire rod market split on price hikes holding
Jul 18, 2014 | 02:17 PM
| Nat Rudarakanchana
NEW YORK Wire rod price increases by major domestic mills could stick for August and beyond, although market participants are uncertain about whether the market will bear the higher tags indefinitely.
Charlotte, N.C.-based Nucor Corp. this past week said it was increasing prices for all wire rod products by $15 per ton for August shipments (amm.com, July 17), a move followed a day later by Chicago-based ArcelorMittal USA Inc.
Tampa, Fla.-based Gerdau Long Steel North America is likely to raise wire rod prices by $10 per ton, a wire rod buyer said, although he had not seen an official letter. He was waiting to hear from Sterling, Ill.-based Sterling Steel Co. LLC, another U.S. wire rod producer, after Peoria, Ill.-based Keystone Steel & Wire. Co. raised prices by $10 per ton on July 18. ....
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