Wire rod market wary as import influx expected

Jan 04, 2013 | 03:54 PM | Catherine Ngai

Tags  wire rod, imports, steel traders, steel buyers, Catherine Ngai

NEW YORK — U.S. shores are set to see a large influx of foreign steel over the next few months, and wire rod buyers are waiting to get a better picture of the market before they make decisions about sourcing material.

Major orders of Chinese rod are slated to arrive between now and the end of spring, buyers and traders told AMM, and while domestic prices rose last month, buyers said that those who purchased foreign material stand to benefit.

"If you bought a lot of imports (last year), you rang the bell and grabbed the brass ring," one buyer said. "If you didn’t, you are so screwed. There’s an awful lot of gnashing of teeth right now for the smaller guys who bought domestic." ....

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