Special bar quality (SBQ) steel prices increased in the United States in June on higher mill base prices and increased surcharges while some mills continued to sell forward production for a number of SBQ products to the end of the year, according to market participants.
Fastmarkets' assessment for steel bar hot-rolled special bar quality 1-inch round 1000 series (carbon), fob mill US was at $61.50 per hundredweight ($1,230 per short ton) on Friday June 18, up by 2.5% from $60 per cwt on May 21 and by 6.96% from $57.50 per cwt on April 16.Fastmarkets' assessment for steel bar cold-finished 1-inch round 1018 (carbon), fob mill US was at $82.25 per cwt ($1,645 per ton) on Friday, up by 4.11% from $79 per cwt on May 21 and by 7.17% from $76.75 per cwt on April 16.In early June, mills raised prices for hot-rolled and cold-rolled SBQ products by $2.50...