CSC's killed wire rod prices buoyed to rise
Metal Recycling News | 2011-06-13 03:38:25
Stimulated by rising scrap prices, the transaction prices of China Steel Corp. (CSC)'s electric furnace (EF) killed wire rod have remained stable at NT$22,000/ton
By Paul Ploumis
BEIJING (Scrap Monster): Stimulated by rising scrap prices, the transaction prices of China Steel Corp. (CSC)’s electric furnace (EF) killed wire rod have remained stable at NT$22,000/ton.
In fact, the transaction prices of CSC’s EF killed wire rod had increased to NT$22,500/ton in the beginning of this year, driven by high scrap prices then.
However, it dipped to NT$21,800/ton previously as the scrap prices dropped in March.
Nevertheless, the scrap prices have increased recently due to more active purchase from Turkey and India. At present, the prices of the US vessel scrap 80:20 (1:2) have risen to US$500/ton, the rebar prices have increased as well.
Industry sources predict that if scrap prices continue to soar, the transaction prices of CSC’s EF killed wire rod may have chance to rise further, Yieh Corp reported.
