Monthly Archives: June 2012
For several weeks, import offer prices of rebar and wire rod to the US from Turkey kept slipping further and further down, while many potential US customers just sat back and waiting for prices to hit bottom. But instead of hitting bottom and staying there long enough for buyers to actually have a chance to […]
On June 22, J.D. Fields & Co. Inc., a distributor of pipe and steel piling products, filed a $40 million lawsuit against its steel piling supplier Nucor-Yamato, a subsidiary of Charlotte, North Carolina-based Nucor Corporation. In the suit, J.D. Fields claims Nucor-Yamato consistently gave Skyline Steel lower prices, giving the company an unfair competitive edge. […]
In the face of weak demand and ever-softening import offers, many have been wondering why US longs mills (including rebar, wire rod, merchant bar and beams) didn’t lower transaction prices lower than they did, which was about half of this month’s shredded scrap price decrease. Are they trying to maintain some control over price volatility? […]
The Financial Times reported last week that China had warned its banks of rampant illicit borrowing by steel companies, a development that underscores the financial dangers for the country as the government mulls a new stimulus effort to support the slowing economy.