US rebar marts flat, unlikely to budge

October 07, 2021 / www.metalbulletin.com / Article Link

Domestic steel reinforcing bar prices in the United States were sideways this week, with the combination of demand and backlogs expected to sustain what many market participants believe is a price peak.

Fastmarkets' assessment for steel reinforcing bar (rebar), fob mill US was $49.25 per hundredweight ($985 per short ton) on Wednesday October 6, unchanged since August 11 but up by 65.55% from $29.75 per cwt at the same time last year.Rebar prices are the highest they've been since 2008, as is the spread between rebar and shredded scrap - its key feedstock material -...

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