Wire rod prices in the United States have stayed flat over the past two weeks, while industry sources were divided as to whether mill hikes announced in November will be accepted by the marketplace in January 2019.
Fastmarkets AMM's price assessment for industrial quality low-carbon rod held firm at $39.25-41.25 per hundredweight ($785-825 per short ton) fob mill on Wednesday December 12, with imported low-carbon wire rod staying put at $744-762 per ton cfr Port of Houston due to a lack of fresh cfr offers.Mill hike debate continuesWith sources reporting stable lead times ranging from four to six weeks and no supply or availability issues to speak of, last month's price increase announcements continue to be the major point of discussion in the market. One rod consumer expects the price increases to pass through to the market in January, and noted that his mill representative said the decision to raise prices was driven by the two months of gains seen in the ferrous scrap market during October and November. That said, expectations of further upward pressure from rising raw material costs dwindled following the December trade. The price for shredded...