Fastmarkets’ weekly assessment for steel reinforcing bar, fob mill US was $48 per hundredweight ($960 per short ton) on Wednesday June 23, unchanged from the previous week, but up 11.63% from $43 the month before.
Although the cost of rebar stabilized this week, it still remains high, and market participants wonder when the tight market and frequent price hikes will end.
Limited supply and long lead times continue to be the norm in the current market.
An eastern distributor has seen “no new orders to be placed at the mills until August or September,” as well as market inconsistency. “Some are not taking orders,...