Imported rebar prices slide again, are US mills matching?
Tuesday, 14 June 2005 01:27:00 (GMT+3)
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Imported rebar prices slide again, are US mills matching?
Import offer prices continued their downward slide last week. One trader has been booking orders for German rebars at $20.50 cwt. ($452/mt duty-paid, loaded truck in Houston) and lower for August/September deliveries. This price represents a $20/short ton ($22.05/mt) price decrease since last week. Amazingly this new price may not be the bottom for import offers.
On the domestic pricing side, US mills announced that they will raise their base price to offset the diminished raw materials surcharge. Even though there is no effective price change to customers according to this announcement, there are reports that certain US mills are now matching import offers without hesitation.
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