While steel reinforcing bar prices in the United States have held steady over the past week, market participants were leery of procuring more material given expectations that ferrous scrap costs may decline during next month's domestic trade.
Fastmarkets' weekly assessment for steel reinforcing bar (rebar), fob mill US held at $39.75 per hundredweight ($795 per short ton) on Wednesday January 27. US marketWhile prices were flat week on week, market participants have been cutting back their purchasing activity ahead of February's domestic ferrous scrap trade, where shredded prices may face a downward correction. "Customers now want to...