Bekaert reports 50% tariff-linked hike in tire-cord steel costs

Zwevegem, Belgium – NV Bakaert SA has reported a 50% increase as of August in prices of imported wire rod for its rubber reinforcement products in North America.

The increase “reflects the aggregate impact of changes in sourcing, wire rod price evolutions, import duties and anti-dumping tariffs,” the Belgian group said in half-year financial results issued 27 July.

And while, it said, wire rod imports for Bekaert’s two rubber reinforcement plants in the US had not been affected by import duties in the first half of 2018,…

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