Rebar prices face pressure: CMC chief

Mar 27, 2014 | 05:00 PM | Stacy Irish

Tags  Commercial Metals, CMC, rebar prices, rebar imports, Turkish rebar, Mexican rebar, Joseph Alvarado, Stacy Irish

NEW YORK — Commercial Metals Co.’s (CMC’s) domestic reinforcing bar prices came under pressure in its fiscal second quarter, due in part to an influx of Turkish imports, its top executive said.

“Domestic rebar pricing is under constant pressure as a result of large imports from Turkey, which has increased their market share to double digits compared to single digits in previous quarters,” chairman, president and chief executive officer Joseph Alvarado said during an earnings conference call March 27, noting that Turkey shipped more than 400,000 tonnes of rebar to the United States in 2013.....

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