Prices for cold-heading quality (CHQ) and high-carbon wire rod in the United States both surged by $5.50 per hundredweight ($110 per short ton) in January, driven by higher ferrous scrap prices and surging demand. Fastmarkets’ monthly assessment for steel wire rod (high carbon), fob mill US was at $47.75 per cwt on Friday January 15, up by 13% from $42.25 per cwt in December. Fastmarkets’ assessment for steel wire rod cold-heading quality, ddp was at $48.50 per cwt, up by 12.8% from $43 per cwt in the same comparison.
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