SBQ prices in US follow busheling lower

Special bar quality (SBQ) prices in the United States declined after ferrous scrap costs dropped in September while demand remained muted.

Plentiful inventory and weak end-use markets including the domestic oil-and-gas industry and automakers ensured that SBQ producers could not sustain August prices, according to market participants.  "The market is languishing," a mill source said.  Fastmarkets’ price assessment for steel bar hot-rolled SBQ 1-inch round 1000 series (carbon), fob mill US fell to $36 per hundredweight ($720 per ton) on Friday September 13, down by 5.3% from $38 per cwt one month ago and by 20% from $45 per cwt one year...

Published

Dom Yanchunas

September 16, 2019

22:41 GMT

New York