Pittsburgh—Wire rod prices in the US rose Friday after several steel mills announced $40/st increases on May 11 and 12. On Friday, S&P Global Platts’ weekly Midwest mesh quality wire rod assessment widened to $570-$605/st ex-works from $570-$595/st a week earlier, as it remained unclear whether buying activity was taking place at the higher offer levels. Both Nucor and Liberty Steel issued $40/st price increases on all wire rod effective May 12, supported by the previous week’s $25/lt increase in shredded scrap prices and a lack of import pressure. Following the announcements, buy-side sources were cautious and did not expect the higher price levels to last.
展开▼
