In a letter to customers Friday, Gerdau Long Steel North America announced a $25/nt ($1.25 cwt. or $28/mt) transacton price increase on all wire rod products, effective with shipments as of February 1.
The move follows Nucor's announcement earlier in the week of a $23/nt ($1.15 cwt. or $25/mt) transaction price increase for all wire rod products, also effective with shipments as of February 1.