Three US steelmakers announced $25/st price decreases on merchant bars effective with shipments Monday, letters sent to customers said.
Nucor said in a letter distributed Friday it will be cutting prices on most merchant and structural products beginning Monday "to better align our published price list with market transaction pricing influenced by our domestic competitors' unpublished discounts and by imports."
Commercial Metals Co. on Monday announced a $25/st base price decrease to respond to "continued pricing pressures from both imports and domestic competitors." Gerdau Long Steel North America also lowered its prices $25/st on most angles, channels, flats, rounds and squares.
A Midwest merchant bar distributor said he was not surprised by the price reductions because the spread between import and domestic prices had become too wide. The announcements might also have a strategic purpose, he said.
"Is it playing into their philosophy that they will file more and more dumping suits and can look at the verbiage in their announcement to have a little more ammunition? Maybe," he said.
The distributor said the price cuts are unlikely to spur much more domestic buying activity. Buying activity by the mills' warehousing customers has been muted this year, he said.
Source: Platts
- metaljunction »
- Metal News
Metal News & Events
METALJUNCTION PUBLICATIONS
Coal Insights (English) Monthly
Coal Insights is a ready reckoner for anyone associated with coal. This publication is aimed at tracking everything related to coal in India.
India Coal Market Watch(English) Monthly
ICMW is a one-stop source for all news, data and research pertaining to coal demand, consumption, stocks, spot- and long-term prices with respect to the Indian Market.
India Steel Market Watch (English) Monthly
ISMW is a brand new high-end steel market report, covering all aspects of the steel industry in India.
Steel Insights(English) Monthly
Steel Insights delves into various facets of the domestic and global steel industry such as market fundamentals, raw material price trends, price forecasts etc.