FOR IMMEDIATE RELEASE:
CHINA STEEL INCREASE AND GALVINIZNG MILL SHUTDOWNS CAUSING HIGHER PRICES AND DELAYED SHIPMENTS
June 30, 2017
As one of the largest importers and suppliers of roofing nails from China we wanted to make you aware of the recent events causing a spike in pricing and extended lead times. Over the past week the price of wire rod, the steel used to produce roofing nails, has risen 10% driven by rapid increases in iron ore. The price of wire rod has increased from $3420 RMB to $3750 RMB in one week.