US rebar prices rise again; new mill price increase expected

Steel reinforcing bar prices in the United States increased again on Wednesday June 2, with the most recent hike from domestic producers accepted by the market.

Fastmarkets' assessment for steel rebar, fob mill US was $44 per hundredweight ($880 per short ton) on June 2, up 0.57% from $43.75 per cwt the previous week.
US market
The most recent round of mill hikes - led by Commercial Metals Co and followed by other mills, including Nucor Corp - has been accepted amid tight market conditions, with another increase expected soon, market participants said.
Rebar demand remained active, with domestic mills busy, and the market has accepted the last price increase, a trader said.

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