In a letter to customers late Tuesday, Nucor said it will increase all wire rod transaction prices by $1.50 cwt. ($33/mt or $30/nt), effective with all new orders.
All wire rod diameters below ¼” are still subject to a size extra of $1.00 cwt. ($22/mt or $20/nt).
Prior to the increase announcement, US domestic wire rod spot prices were trending at $52.00-$53.00 cwt. ($1,146-$1,168/mt or $1,040-$1,060/nt) ex-mill.