US mills are holding back on further price increases on rebar to avoid a government reaction, thereby making it harder for imports to compete, the International Rebar Producers & Exporters Association (Irepas) said this week.
On June 20, US Commerce Secretary Wilbur Ross accused unnamed industry participants of wrongly "profiteering" from Section 232 tariffs on imported steel, suggesting the Trump administration would investigate alleged stockpiling that he said has driven steel prices higher than merited by the tariffs - 25% in the case of foreign steel.Metal Bulletin's fortnightly assessment for US domestic rebar was stable at $700-720 per short ton ($772-794 per tonne) fob mill on Thursday July 5, unchanged from the previous assessment on...