Long products quiet ahead of lower July tags

Jun 20, 2014 | 04:39 PM | Nat Rudarakanchana

Tags  rebar, wire rod, China wire rod, trade cases, Turkish rebar, Nucor, long products, Nat Rudarakanchana

NEW YORK — The long products market has remained quiet since early to mid-June as domestic wire rod buyers anticipate a significant price decline for July shipments and end markets remain solid but unremarkable.

AMM’s domestic wire rod and concrete reinforcing bar price assessments remained flat, while import prices edged lower due to cheap Chinese wire rod and lower Turkish rebar prices.

Prices for imported low-carbon wire rod fell to $610 to $635 per ton from $620 to $640 per ton previously, reflecting low prices for Chinese wire rod, which is still being sold in the market although at lower volumes.

Chinese wire rod prices are as low as $560 per ton, sources said, while wire rod from Turkey often sells for $640 per ton. Generally, traders no longer import Chinese wire rod because of pending anti-dumping and subsidy trade cases that could impose backdated duties on imports (amm.com, June 5).....

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