Steel reinforcing bar prices in the United States climbed on Wednesday December 30 to a more than eight-year high as the market continued to accept the latest round of price increases, according to market participants.
Fastmarkets assessed steel reinforcing bar (rebar), fob mill US at $37 per hundredweight ($740 short ton) on December 30, up 4.2% from $35.50 per cwt the week before and its highest price since it was $37 per cwt in May 2012.Market participants said that new orders placed with domestic mills reflected the latest round of price hikes. "That's...