Cold-heading quality (CHQ) and high-carbon wire rod prices in the United States rose on Friday November 20 amid higher scrap prices and increased demand.
Fastmarkets' monthly assessment for steel wire rod (high carbon), fob mill US rose by 2.8% to $37.25 per hundredweight ($745 per short ton) on Friday November 20 from $36.25 per cwt previously, where the price had remained since September 18.Fastmarkets' assessment for steel wire rod cold-heading quality, ddp rose by 2.7% to $38 per cwt ($760 per ton) on November 20 from $37 per cwt previously.Prices for domestic wire rod have been rising more quickly than ferrous scrap costs, sources said, pointing to strong demand combined with supply constraints. One consumer source noted that wire rod...