ArcelorMittal boosting wire rod prices
Monday, Jun 02, 2008
In order to reflect the increased cost, recently ArcelorMittal Long Carbon North America has announced to raise the wire rod price by US$120/short ton from June 16. Meanwhile, Ipsco is also raising the price by US$170~~270/short ton, effective 29 June. The reasons to raise the prices by ArcelorMittal are rising cost of raw materials and the strong demand. The company raised its wire rod price in May by US$60/short ton. On the other side, market players are worried about higher import volume. In April, United States imported about 145,000 tons of wire rod, while the figure in March was 750,000 tons.Source: Purchasing
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