US rebar prices flat; traders in a bind

Prices for steel reinforcing bar (rebar) in the United States held steady while domestic mills said overall market conditions will sustain satisfactory volumes with import purchases inhibited by overseas cost trends.

Rebar traders reported some of the tightest margins in their careers, while export scrap costs discouraged Turkish rebar providers from offering more competitive prices. US market participants said the steady recovery from the Covid-19 pandemic will ensure sufficient construction activity for the remainder of 2020. Domestic producers can, therefore, generate enough business at current prices, with restocking likely as well.  "Seems like mills still have some orders but are running with low inventories," one Midwestern rebar consumer said.  Fastmarkets' assessment...


Dom Yanchunas

August 13, 2020

21:18 GMT

New York