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In a story posted by Dom Yanchunas with Fastmarkets AMM, he reported that prices for domestic steel reinforcing bar in the United States rose for the first time since January, after buyers mostly accepted mills' price increases. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), fob mill U.S. climbed to $29.25 per hundredweight ($585 per short ton) on Wednesday Sept. 9, up by 4.5 percent from $28 per cwt previously, where the price had remained since mid-July. The assessment is now down by just 2.5 percent from $30 per cwt at the start of the year.
Fastmarkets' price assessment for steel reinforcing bar (rebar), import, loaded truck Port of Houston for immediate delivery strengthened to a new range of $555-565 per ton ($27.75-28.25 per cwt) on Wednesday, Sept. 9 from $545-555 per ton a week earlier. The new range marks the import assessment's highest since mid-June.
Between Sept. 2 and Tuesday, Sept. 8, four U.S. rebar producers increased prices by $40 per ton ($2 per cwt). The mills' scrap input costs are trending upward for September and October, and rebar consumption seems to be steady through year's end, according to market participants. Multiple fabricators and one trader said the domestic price increase was being charged immediately and was likely to hold.
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