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19 Sep

Auto strike contagion spreads to rebar, prices slip

Rebar spot pricing in the US has decreased this week after scrap-market sentiment weakened amidst the United Auto Workers (UAW) strike. Spot prices fell by $20/short ton week-on-week, dipping below the $900/st baseline that had been upheld since late 2021. "The [UAW] strike isn't directly affecting the quantity of our orders... Producers have seen a drop in scrap input prices, which, in turn, has led to lower rebar selling prices across the entire market,…
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