DeAcero, Mexico's largest producer of steel wire, advised customers Thursday that it will hike prices for all industrial steel products by $3.50 cwt. ($70/nt or $77/mt).
The price increase is effective for all confirmed orders to be shipped after the end of January 2010. The company said, in a letter to customers, "We will do everything possible to ship your order before the end of the month; however, if your order does not ship we must still apply a $3.50 cwt. increase."
DeAcero said that the price increase is necessary due to "non-stop" increases since the fourth quarter in prices of raw materials such as scrap and zinc.