Steel reinforcing bar prices in the United States are steady this week, with market participants closely watching the monthly domestic ferrous scrap trade for signs of how it will impact the spot rebar market.
Fastmarkets' weekly assessment for steel reinforcing bar (rebar), fob mill US was at $39.75 per hundredweight ($795 per short ton) on Wednesday February 3, unchanged from January 27. US marketWhile the domestic market remains on firm footing for the time being, market participants are roughly split on whether an anticipated sharp decline in raw material costs during this month's scrap trade will lead to any meaningful deterioration in spot rebar prices. At the time of...