US rebar price moves closer to $30/cwt

Reinforcing bar prices in the United States continue to drive higher due to price increases announced by domestic mills earlier this month, sources told Fastmarkets.

Fastmarkets’ assessment for steel rebar, fob mill US was at $29.75 per hundredweight ($595 per short ton) on Wednesday September 16, up by 1.7% from $29.25 per cwt last week and by 6.3% from $28 per cwt on September 2.
Commercial Metals Co (CMC) on September 2 announced it was raising prices by $40 per ton, a move that was followed by other rebar producers.

Fastmarkets’ latest assessment indicates that $1.75...

Published

Patrick Fitzgerald

September 17, 2020

20:27 GMT

New York