US merchant bar market eyes January price increase

US domestic merchant bar prices remain flat due to steady market conditions, along with import prices, even though sales and purchases of material from Mexico and Taiwan have been reported in the US South and Southwest. But a rise could loom for January, sources said.

Fastmarkets AMM assessed domestic 2- x 2- x 1/4-in angle merchant bar at $38.05 per hundredweight ($761 per short ton) fob mill  on Friday November 30, unchanged from the previous month; while imported merchant bar held at $770-800 per ton ($38.50-40 per cwt) ddp port of Houston in the same comparison. Domestic merchant bar prices have been flat since June 29. January rise could be in the mix A price increase could be in store for the market in January, industry sources told Fastmarkets AMM. While a December increase is unlikely, an East Coast distributor said, one could be implemented during the second or third week of January. Service centers will likely increase their buying activity after the end-of-year holiday season slowdown in order to prepare for the new business year, which will help the increase be absorbed by the market, this source said. “I’m not looking to place any orders right now,” this source...

Published

Patrick Fitzgerald

December 03, 2018

22:53 GMT

New York