Little hope seen for long products price hikes

May 23, 2014 | 03:14 PM | Thorsten Schier

Tags  rebar, wire rod, Gerdau Long Steel North America, merchant bar, price increase, Thorsten Schier

NEW YORK — Participants in the long products market have little hope that proposed early June price increases on rebar and merchant bar by one domestic mill will succeed unless there is further support from other producers.

"As of now, it doesn’t have a chance," one West Coast distributor source said.

Tampa, Fla.-based Gerdau Long Steel North America earlier this month announced a $20-per-ton increase on merchant bar products (amm.com, May 9) and rebar (amm.com, May 12).

Overall, domestic prices for both products were reported as steady this past week, with smaller quantities of merchant bar buys still fetching official list prices while contract tonnages remain discounted, sources said.....





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