Prices for domestic and imported merchant bar quality (MBQ) steel in the United States rose by $1.50 per hundredweight ($30 per short ton) in response to a round of price increases by domestic mills.
Fastmarkets' monthly assessment for steel bar 2 x 2 x 1/4 -inch angle merchant products, fob mill US rose by 4.4% to $35.30 per cwt ($706 per ton) on Friday September 25 from $33.80 per cwt previously, where the price had remained since April 24.Fastmarkets' assessment for steel merchant bar, loaded truck Port of Houston for immediate delivery rose by 4.7% at the midpoint to $660-680 per ton on Friday from $630-650 per ton on August 28; that price had also been unchanged since April 24.Domestic steelmakers announced a series of $30-per-ton price increases on MBQ and steel beam products in mid-September; notably, while...