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Gerdau raises steel wire rod prices $35/T

Keywords: Tags  Gerdau Long Steel North America, wire rod, shredded auto scrap, Nucor Corp., price increase, Samuel Frizell


NEW YORK — Gerdau Long Steel North America has raised its prices for all wire rod products at its Beaumont, Texas, and Jacksonville, Fla., mills effective with shipments April 1.

Gerdau will raise prices for all products by $35 per ton ($1.75 per hundredweight), except for cold-heading quality and welding grades, which will record a $43 per ton ($2.15-per-cwt) price rise, according to a March 13 letter to customers.

Gerdau’s move follows news of a $40-a-ton price increase on wire rod products by Nucor Corp. (amm.com, March 12).

The announcement comes after scrap transactions in Chicago settled up across the board last week, with AMM’s consumer buying price for shredded auto scrap—an industry benchmark for some steel raw material surcharges—rising $35 per ton and AMM’s price for No. 1 busheling rising $43 per ton (amm.com, March 7).

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