Prices for steel reinforcing bar in the United States ticked up following increase announcements from several domestic mills, and sources expect that uptrend will continue next year if ferrous scrap values move up as anticipated in the January 2020 trade.
Fastmarkets assessed the price for steel reinforcing bar (rebar), fob mill US at $29.50-30.50 per hundredweight ($590-610 per short ton) on Wednesday December 18, an increase of 0.8% from $29.50-30 per cwt on December 4 but still off by 15.5% from $35-36 per cwt one year ago.Earlier this month, domestic steelmakers announced $30-per-ton ($1.50-per-cwt) price increases, which sources said have been successful...