Domestic wire rod prices in the United States have risen by $25 per short ton ($1.25 per hundredweight) in the wake of mill price hikes by Nucor and Keystone Steel & Wire, although the two mills listed different price changes in their customer letters.
American Metal Market's price assessments for all US domestic rod grades rose by $1.25 per cwt, in line with one mill hike. The assessment for industrial-quality rod rose to $39.25-41.25 per cwt ($785-825 per ton) on Wednesday May 23. Keystone raised its prices by $45 per ton ($2.25 per cwt), effective for June shipment; Nucor set an increase of $25 per ton, effective immediately as of May 14.At the very least, Nucor's increase has gone through, rod buyers said. Lead times are long, with June booked out at a few mills and one East Coast mill now fillings its August rollings, buyers said. And Keystone may well achieve its increase for its own sales, if its order books are filled out, market participants...