US reinforcing bar prices fall to pre-232 levels

Steel reinforcing bar prices in the United States have fallen to pre-Section 232 levels, with import prices also declining due to fresh offers from Europe.

Fastmarkets’ price assessment for steel rebar, fob mill US, widened downward to $31.50-32.50 per hundredweight ($630-650 per short ton) on Wednesday July 17 from $32-32.50 per cwt two weeks earlier, with the price also down by 9.9% from $35-36 per cwt one year ago.  The latest assessment puts the US rebar price firmly below the $32-33-per-cwt range recorded in late February 2018, ahead of the announcement of the Section 232 tariffs on March 1, 2018.   Fastmarkets’ assessment for steel rebar, import, cfr Houston, slipped to $630-640 per ton on July 17 from $640-660 per ton previously. Availability is not an issue for the most part, sources said.  “[There is] plenty of bar available; no shortage of domestic supply,” one rebar consumer said.  US market The decline in domestic rebar prices stems from seasonally weak demand and US mills...

Published

Patrick Fitzgerald

July 18, 2019

21:42 GMT

New York