10/13/2010 11:00:00 PM
NEWS BRIEFS
U.S. imports rise, while China orders break 3-year record
EU Wire Rod Mills Cut Prices
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European wire rod mills have lowered prices by EUR 20 per ton (US$28) for October production, SteelGuru reports. The move is intended to offset flattening construction sector demand in the months of 2010.
“Small tonnages of wire rod have been transacted at EUR 440 per tonne to EUR 450 per tonne delivered, down from the previous price of EUR 460 per tonne to EUR 470 per tonne,” SteelGuru reports.
Wire rod imports from Turkey reportedly have hurt domestic suppliers in the UK. ©2010 GlobalFastenerNews.com
U.S. wire rod imports increased 2.84 times to 799,000 tons during the first seven months of 2010, according to data released by the U.S. International Trade Commission.
size: small;”>U.S. demand was primarily satisfied by suppliers in Canada, which more than doubled their wire rod exports to 217,890 tons — more than one-quarter of total U.S. wire rod imports, according to Steel Orbis.
Another key importer was Turkey, which exported 139,640 tons of wire rod to the U.S. in the January-July 2010 period. That figure represents an increase of 4.3 times over the first seven months of 2009.
Other sizable wire rod exporters to the U.S. included Japan, Brazil, the U.K., Mexico and Italy.
Analysts see evidence that this import growth will continue, as U.S. wire rod import permit applications jumped 85% to 113,168 tons in August. Canadian activity remained at current levels, while Turkey, Japan and Mexico increased exports to the U.S. during the month.
Taiwan Demand Hits 3-Year Record
Wire and wire rod orders from Taiwan’s domestic fastener industry topped 236,700 tons in the third quarter, hitting a record high in three years, according to China Steel Corp. of Taiwan.
Fastener producers in Taiwan normally consume about 200,000 tons of wire and wire rod per quarter, although orders dipped to 120,000 tons during the global financial crisis.
In recent weeks China Steel announced an increase in production of high-end wire rod, while subsidiary Dragon Steel decided to double its annual output of low-carbon wire rod to 100,000 metric tons. ©2010 GlobalFastenerNews.com
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