US rebar price slides to 28-month low; import price drops

Declining market activity due to the ongoing Covid-19 pandemic and competitively priced imports worked in tandem to lower steel reinforcing bar prices in the United States, market participants said.

Fastmarkets' price assessment for steel reinforcing bar (rebar), fob mill US narrowed lower to $29-29.50 per hundredweight ($580-590 per short ton) on Wednesday May 6, down from $29-30 per cwt previously and down by 15.8% from $34.25-35.25 per cwt one year ago.
The assessment is at its lowest since early January 2018, when the price stood at $28-29 per cwt, according to Fastmarkets' pricing data.
Domestic overview
"It's the demand issue more than anything; [mills are] trying to chase the tons that are out there," an East Coast buyer said.

"Covid has eclipsed what was shaping out to be a decent year," according to one mill source. "The...

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