Gerdau Ameristeel this week announced that it will increase its wire rod prices by $55 /nt ($61 /mt or $2.75 cwt.), effective with shipments as of May 1.
Mittal Georgetown has also announced that it will raise its wire rod prices by $55 /nt in May, though Mittal's announcement came before domestic shredded scrap prices fell significantly at the beginning of April. It is also interesting to note that Gerdau's move is in sharp contrast to Nucor's decision to lower rebar prices in May, even though the rebar market is arguably stronger than the wire rod market.