Prices for domestic merchant bar quality (MBQ) steel in the United States rose for the third month in a row in January, while import prices remained unchanged after climbing in late December 2020.
Fastmarkets' monthly assessment for steel bar 2 x 2 x 1/4 -inch angle merchant products, fob mill US was at $44.30 per hundredweight ($886 per short ton) on Friday January 29, up by 4.7% from $42.30 per cwt on December 28 and up by 20.4% from $36.80 per cwt on November 30.The price for steel merchant bar, loaded truck Port of Houston for immediate delivery was at $790-810 per ton on Friday, unchanged from the prior month but up by 14.3% from $690-710 per ton on November 30. The domestic price rise follows mill increases announced in mid-January.Nucor announced a $40-per-ton ($2-per-cwt) rise on steel beams and MBQ steel products on January 12. Gerdau Long Steel North America followed the move a day later. Market viewsA number of market...