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 -...