The price for import merchant bar shot up due to confirmed sales of Mexican material into the southern and southwestern United States, while that for domestic material was steady due to calm market conditions.
Fastmarket AMM's latest assessment for imported merchant bar rose to $770-800 per short ton ($38.50-40 per hundredweight) ddp port of Houston on Friday October 26 from $640-680 per ton previously, while domestic 2- x 2- x 1/4 -in angle merchant bar held at $38.05 per cwt ($761 per ton). Imports sell but volumes declineOne trader has been selling Mexican merchant bar at a loaded truck price of $38.50 per cwt into Texas and $40 per cwt into California.Similar activity was reported by a second trader, who had heard offers for Mexican merchant bar in the "high $30s," he said. "Mexico is close and they can do the truckloads." There have been some opportunities to sell Mexican material despite the Section 232 tariffs, the first trader said, but...