Prices for cold-heading quality (CHQ) and high-carbon wire rod in the United States both surged by $5 per hundredweight ($20 per short ton) month on month, supported by higher ferrous scrap prices.
Fastmarkets' monthly assessment for steel wire rod (high carbon), fob mill US rose by 13.42% to $42.25 per cwt ($845 per ton) on Friday December 18 from $37.25 per cwt the prior month.Fastmarkets' assessment for steel wire rod cold-heading quality, ddp increased by 13.16% to $43 per cwt ($860 per ton) on Friday from $38 per cwt in November. The rising prices for high-carbon and CHQ wire rod follow a similar jump in prices for low-carbon industrial quality wire rod this month, indicating that significant scrap price increases have been passed...