US domestic, import rebar prices drop after virus hits scrap, sentiment

Rebar prices in the United States declined after the Covid-19 pandemic trimmed ferrous scrap input costs and raised concerns that construction investment may become constrained.

Fastmarkets' price assessment for steel reinforcing bar (rebar), fob mill US slid to a new range of $29-30 per hundredweight ($580-600 per short ton) on Wednesday April 15 from $29.75-30.75 per cwt ($595-615 per ton) on April 1.
Fastmarkets' price assessment for steel reinforcing bar (rebar), import, loaded truck Port of Houston for immediate delivery dropped to $570-600 per ton ($28.50-30 per cwt) on Wednesday from $590-610 per ton ($29.50-30.50 per cwt) two weeks earlier.
Fabricators and other consumers said they are still busy with ongoing jobs, but construction customers seem to be slowing down orders for future work in multiple regions.

One fabrication source said Covid-19 flipped the previously tight rebar supply/demand equation to a buyer's...

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