It's reported that Keystone Steel announced to raise its prices for steel wire products by US$30/short ton, effective from December 30th, driven by increased scrap prices.
It's learned that the major steel wire producers in the US including Nucor, Keystone Steel, Gerdau Long Steel North America and ArcelorMittal North America have all increased steel wire prices during October and November.
Meanwhile, industry sources said that the price rise might be acceptable to buyers as the imports of steel wires from China have decreased.