US rebar price continues to soften2098 Views
US rebar pricing continues to decay despite gains in most other products, Kallanish learns from market sources.
Scrap-driven increases backed by reportedly solid demand has led to gains in sheet and at least status quo for plate, while several mills are pushing for higher base prices on tubing and beams.
Rebar mills, however, are not only not trying for higher base prices – they are having difficulty maintaining the base prices they set several months ago, say buy-side sources.
“There’s been no change in rebar pricing at all,” says one North-east buyer. “We have in fact seen price decreases on finished goods in select areas. I believe demand is extremely soft, which has domestics pushing prices down.”
Kallanish lowered its price for #4 rebar in 20-foot sticks on Tuesday to $570-590/short ton. All prices are ex-works, domestic mill.
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Very good overview of the weekly steel market.