Prices for domestic steel reinforcing bar in the United States were stable this week, with market participants waiting to see if other mills will follow Steel Dynamics Inc's (SDI) price increase.
Fastmarkets' price assessment for steel rebar, fob mill US was $49.25 per hundredweight ($985 per short ton) on Wednesday September 1, unchanged since August 11 but up by 75.89% from $28 per cwt at the same time last year.US marketAlthough prices for shredded scrap - the key feedstock for rebar - declined in August and face a downtrend again in September, most participants agreed that rebar prices will remain largely flat for the rest of the year."I tried to get some mileage out of [the anticipated...