Wire rod, rebar may face price bump

Aug 15, 2014 | 06:26 PM | Nat Rudarakanchana

Tags  long products, steel, wire rod, rebar, Steel Dynamics, SDI, Roanoke Bar, Nucor steel prices

NEW YORK — U.S. wire rod and rebar market participants are expecting further price increases in the coming weeks even as tags held steady this past week, although views were mixed on how the hikes would be met.

While the hikes could be accepted in a busy rebar market, wire rod buyers could resist the moves amid uncertainty about demand, they noted.

AMM’s prices were unchanged at $32.50 per hundredweight ($650 per ton) for domestic rebar and $33.75 to $34 per cwt ($675 to $680 per ton) for industrial-quality low-carbon wire rod on an f.o.b. mill basis.

U.S. mills have announced various price increases over the past few weeks.....

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