CMC faces import pressure, spotty B&C
Jun 27, 2013 | 04:37 PM
| Samuel Frizell
NEW YORK Flat construction markets and import pressure could prevent Commercial Metals Co. (CMC) from seeing dramatic improvements in business in the coming months, chairman, president and chief executive officer Joseph Alvarado said during a June 27 earnings conference call.
Alvarado expects to see a "sideways market" in the months ahead as demand for rebar remains spotty and merchant bar imports depress product margins, even as the company remains profitable (amm.com, June 27).
"This has remained an attractive market, including for merchant products coming from south of the border," Alvarado said. "In particular, thats where the imports are coming from. The impact has been on volume but even more significantly on pricing."....
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