China, Turkey push wire rod import offers up
Apr 13, 2012 | 04:42 PM
| Catherine Ngai
Tags
imports,
wire rod,
China,
Turkey,
steel prices,
catherine ngai
NEW YORK — Wire rod offers from China and Turkey have edged up in price slightly in recent weeks, leaving those imports with a less-competitive edge due to a narrowing price gap with domestic material, traders say.
"Foreign offers have inched up a little bit. Turkey has been out of the U.S. market for some time, and the Chinese have been successful in inching up their prices by $10 to $15 (per ton)," one trader said. "The Chinese are definitely feeling a little more bullish."
A number of buyers and traders said earlier this year that large shipments of wire rod from China were set to enter the United States as early as the end of the first quarter (AMM, March 16). Market sources cited relatively low Chinese prices coupled with a number of domestic mills raising prices by $20 per ton in mid-March, which pushed some buyers to switch to foreign material. ....
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