US mills brace for ‘flood’ of Chinese rod
May 17, 2013 | 04:45 PM
| Samuel Frizell
NEW YORK Domestic wire rod mills and wire drawers are bracing for a significant increase in Chinese rod imports, with stepped-up shipments from the Asian nation into the summer and early fall already affecting prices.
"There is a lot of Chinese rod coming in," one wire rod trader said. "Chinese wire rod mills have dropped their price and Im thinking of jumping in."
About 1,080 tons of Chinese wire rod are poised to arrive on U.S. shores in May, according to import license application data from the Commerce Departments Import Administration. But applications for Chinese hot-rolled bar imports were at about 69,300 tons so far for May, most of which is actually wire rod, according to several sources.
The majority of Chinese wire rod imports are most likely misclassified as hot-rolled bar (amm.com, Jan. 11). ....
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