Rising scrap costs spur $25/T bar product hike for January
Dec 17, 2007 | 02:16 PM
| Scott Robertson
Rapidly rising scrap costs are driving U.S. producers of reinforcing and merchant bar products to seek price hikes of $25 a ton effective with Jan. 1 shipments.
At the same time, an overall lack of imports of reinforcing bar is leading producers to end the "foreign fighter" deduction on rebar effective Jan. 1, a move that could result in prices increasing another $30 to $40 a ton ($1.50 to $2 per hundredweight). "There is hardly any import coming in," one industry source said. "Removing that deduct will result in prices increasing by $30 or $40 after the first of the year."
Nucor Corp., Charlotte, N.C., Commercial Metals Co., Dallas, and Gerdau Ameristeel Corp., Tampa, Fla., have all informed customers of their intent to increase prices, saying rising input costs are a key factor.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here