US domestic rebar price softens despite scrap uptrend

US domestic rebar prices declined further in the two weeks to Wednesday November 20, falling to their lowest since early January 2018, while import prices narrowed downward slightly in the same comparison.

Fastmarkets' assessment for steel reinforcing bar (rebar), fob mill US declined to $29.25-30.25 per hundredweight ($585-605 per short ton) on November 20, down by 0.8% from $29.75-30.25 per cwt previously and off by 16.2% from $35-36 per cwt one year earlier.
Fastmarkets' concurrent assessment for steel reinforcing bar (rebar), import, ddp Houston tightened to $560-600 per ton on Wednesday from $560-605 per ton previously.
Domestic overview
Inter-mill competition and the threat of imported material have worked in tandem to lower domestic rebar prices across most of the country, according to sources.

On the subject of domestic competition, sources in the Midwest and northeastern United States...

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