Prices for domestic and imported rebar in the United States were stable on Wednesday August 19, with market participants expecting prices to remain unchanged heading into late summer.
US marketFastmarkets' assessment for steel reinforcing bar (rebar), fob mill US was unchanged at $28 per hundredweight ($560 per short ton) on Wednesday August 19.According to one trader, domestic prices should remain at their current levels until September's ferrous scrap trade, at which point he expects spot prices will rise in line with the projected gain in the price of shredded scrap. Additionally, the trader said the domestic market should see less competition from imported material in September and October,...