Steel wire rod imports slow after Sept. spree
Oct 15, 2012 | 03:47 PM
| Catherine Ngai
Tags
wire rod,
steel imports,
steel traders,
Chinese wire rod,
Port of Houston,
Catherine Ngai
NEW YORK — Sales of imported steel wire rod have slowed since the start of October due to rising Chinese prices, uncertainty surrounding the upcoming elections and an abundance of material that was already booked.
Chinese mills, which had gained a foothold in the U.S. market in September by selling wire rod at about $100 per ton below domestic tags (amm.com, Sept. 20), have since increased their offer prices, contributing to the apparent slowdown in import activity, sources told AMM.
Traders and buyers last month reported large bookings of Chinese wire rod for mid- to late-November arrival at prices as low as $535 per ton to the Port of Houston. However, when Chinese mills returned to the market after an early-October public holiday to offer material for February delivery they had increased prices some $27 to $36 per ton, sources said.....
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