Little hope seen for long products price hikes
May 23, 2014 | 03:14 PM
| 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 doesnt 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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