US domestic and imported rebar prices are steady this week, with the Section 232 tariffs - implemented on June 1 - effectively pricing imports out of the market. And despite concerns over supply tightness and transport issues, there is little indication that this will change in the near term, sources said.
American Metal Market's assessment for domestic rebar held at $35-36 per hundredweight ($700-720 per short ton) fob Midwest mill on Wednesday August 1, with imported rebar steady at $676-689 per short ton cfr port of Houston. Status quo prevails in domestic market Sources across the board confirmed that conditions are status quo from a pricing standpoint. "Prices haven't changed at all since late April/early May," one buyer source said. There are ongoing concerns revolving around supply tightness and transport issues, sources said. "Mills are one to two months out on material and have no/little inventory on the floor," a second buyer said. Lead times are...