02
Jul
18:47
US rebar shows effects of declining scrap prices
Average domestic rebar pricing trended down during the last quarter, primarily driven by lower scrap prices and customer destocking. The downward drift in scrap prices is expected to continue to apply pressure on US rebar in July, Kallanish reports.
“I think we have a little bit more to go this month with the scrap going down a little bit more. I think $600/short ton on domestic is achievable in July,” says one Midwest source. Kallanish put…
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Anonymous
Very good overview of the weekly steel market.
Anonymous