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US rebar prices face pressure, CMC ceo says

March 28, 2014 - 08:06 GMT Location: New York

KEYWORDS: US rebar prices , CMC

Commercial Metals Co. (CMC)’s domestic reinforcing bar prices came under pressure in its fiscal second quarter, due in part to an influx of Turkish imports, its top executive said.

"[US] domestic rebar pricing is under constant pressure as a result of large imports from Turkey, which has increased their market share to double digits compared to single digits in previous quarters," chairman, president and ceo Joseph Alvarado said during an earnings conference call Thursday March 27. Turkey shipped more than 400,000 tonnes of rebar to the United States in 2013, he added. But even with a preliminary...

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