US wire rod prices hold as mills show patience with increase

摘要

US wire rod prices remained stable Friday as the latest attempt by domestic mills to raise pricing continued to make its way through the market, sources said Friday. S&P Global Platts maintained its weekly US mesh quality wire rod assessment at $635-$655/st ex-works, stable on week. Earlier this month US mills announced they would be raising wire rod prices $20/st for new spot transactions, but the market's reception has been mixed. Some mills are quoting higher, but the full $20/st increase has not fully translated to higher transaction prices, a buy-side source said.