Scrap costs to drive wire rod prices up, Ivaco’s Perlus says

Dec 10, 2007 | 11:33 AM | Michael Cowden

The president of Ivaco Rolling Mills LP, L'Orignal, Ontario, on Monday added his voice to the growing chorus of industry observers predicting higher prices in coming months.

With scrap prices rising, wire rod producers will adjust their surcharges upward to compensate while mills without surcharges likely will raise base prices, Tom Perlus, head of the wire rod- and billet-making unit of Montreal's Ivaco Inc., said. "It's a terrible pill (for buyers) to swallow. I realize that. But we're stuck with costs going up."....

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