April 2017 | North American Steels
US long product prices likely to remain fairly steady in April: US Long Product Highlights
Wire rod prices have moved up with March’s scrap prices with domestic industrial-quality rod rising to $570-600/ton from $532-562/ton a month.
While AMM Research had expected that US long product producers would be able to take advantage of March scrap price increases to bolster their product prices, that did not happen, at least not to the extent that we had anticipated.
It is not that there were not attempts to do so. While Nucor, Gerdau Long Steel North America and Steel Dynamics announced on March 9 that they were raising rebar prices by $25/ton, by April 1 that price hike was rescinded in large part due to a continued surge of imports, mainly...
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