Scrap nudges US SBQ steel price up, but sentiment still bleak

Special bar quality (SBQ) steel prices in the United States have again risen due to increased raw material costs, but demand remains weak, industry participants told Fastmarkets.

On the hot-rolled side of the market, Fastmarkets' monthly price assessment for steel bar hot-rolled special bar quality (SBQ) 1-inch round 1000 series (carbon), fob mill US rose to $33.25 per hundredweight ($665 per short ton) on Friday June 12; that price is up by 0.8% from $33 per cwt in May but is still down by 14.7% from $39 per cwt one year ago.
On the cold-finished side, Fastmarkets' assessment for steel bar cold-finished 1-inch round 1018 (carbon), fob mill US similarly inched up to $51.75 per cwt ($1,035 per ton); that price is up by 0.5% from $51.50 per cwt in May and down by 10% from $57.50 per cwt in June 2019.

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