Rebar, wire rod imports slow; rebound eyed

Nov 09, 2012 | 04:20 PM | Catherine Ngai

Tags  steel mill, steel trader, rebar, wire rod, steel imports, steel prices, Catherine Ngai

NEW YORK — The steel wire rod and reinforcing bar import sector has been sluggish recently as U.S. mill pricing remains competitive and buyers cautiously eye year-end dynamics.

"Usually around this time of year, people place orders for first-quarter arrival. Some have already booked, but it’s been going very slowly," one steel trader said. "Buyers don’t want to speculate and they’re trying to be conservative. They’re even willing to pay a larger than normal premium on domestic product if that minimizes their risk."

A second trader agreed. "There isn’t a big rush for the first quarter yet," he said. "The domestics are still concerned about filling these last two months."....

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