Chinese rod appealing as domestic prices rise
Aug 22, 2012 | 02:02 PM
| Catherine Ngai
NEW YORK Recent domestic price hikes and competitively priced product from China may have opened a window of opportunity for wire rod traders, market sources have told AMM.
A number of mills, including Charlotte, N.C.-based Nucor Corp., Tampa, Fla.-based Gerdau Long Steel North America and Peoria, Ill.-based Keystone Steel & Wire Co., have recently announced $70- to $80-per-ton price increases effective with Sept. 1 shipments due to an $83-per-ton increase in scrap prices (amm.com, Aug 10).
The markup in domestic prices has made foreign product look particularly attractive, buyers said. ....
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