In a letter to customers Wednesday, Nucor said it will raise all wire rod products by $0.50 cwt. ($10/nt or $11/mt), effective with shipments as of Sept. 1, 2017.
Current US domestic spot prices for wire rod are in the range of $29.50-$30.50 cwt. ($590-$610/nt or $650-$672/mt) ex-mill. If the announced increase is absorbed into the market, it would push spot prices into the range of $30.00-$31.00 cwt. ($600-$620/nt or $661-$683/mt) ex-mill.