Domestic reinforcing bar prices in the United States remain steady as market participants await the impact of the Trump administration's decision to impose Section 232 tariffs of 25% on imported steel products from Canada, Mexico and the European Union.
American Metal Market's latest price assessment on June 6 for domestic rebar was $35-36 per hundredweight ($700-720 per short ton), unchanged from the previous assessment on May 16 but up from $32-33 per cwt when the tariffs were announced on March 1. Wait and seeWhile the tariffs went into effect vs. major US allies on June 1, the prevailing sentiment amongst market participants seems to be "wait and see" as they look to get a better sense of how long, and in what form, the Section 232 measures will survive."I believe the whole industry is in wait and see mode," said one southern buyer. A northeastern buyer did...