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Keystone boosts wire rod prices $50/ton

Keywords: Tags  Keystone Steel & Wire, price increase, wire rod, Nucor, Gerdau, ArcelorMittal, scrap, steel long products

CHICAGO — Keystone Steel & Wire Co. plans to boost prices on all wire rod products by $50 per ton ($2.50 per hundredweight) effective with shipments Dec. 1.

The move by the Peoria, Ill.-based steelmaker, announced in a Nov. 14 letter to customers, follows similar wire rod price hikes slated by other domestic producers, including Gerdau Long Steel North America, Tampa, Fla. (, Nov. 14); Nucor Corp., Charlotte, N.C.; and ArcelorMittal USA Inc., Chicago (, Nov. 13).

Though Keystone did not provide a reason for its increase, the latest round of price hikes follows recent gains in domestic scrap tags (, Nov. 12).

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