US domestic rebar prices up again, import prices rise further

Steel reinforcing bar prices in the United States rose to a 32-month high following a second round of mill hikes and an ongoing supply shortage, but were eclipsed by higher import prices.

Fastmarkets assessed the price for steel reinforcing bar (rebar), fob mill US at $35.50 per hundredweight ($710 per short ton) on Wednesday December 23, up 2.9% from $34.50 per cwt the week before and the highest price since it was $35.25-36.50 per cwt in early April 2019. Most market participants reported that the second round of $40-per-ton ($2 per cwt) price hikes had been fully accepted by the market. The hike “was accepted 100% because there is no availability,” according to a trader source. Lead times currently stand at around four to six weeks, which is unusually long for the rebar market given that material is sometimes already available...

Published

December 23, 2020

23:01 GMT

New York