US rebar prices up, another mill hike expected

Steel reinforcing bar prices in the United States increased again on Wednesday June 9, with another round of mill hikes expected soon.

Fastmarkets' assessment for steel rebar, fob mill US was $44.50 per hundredweight ($890 per short ton) on Wednesday, up 1.14% from $44 per cwt the previous week.
US market
The increase follows recent mill hikes, rising shredded scrap prices in Chicago and Detroit and continuing shortages, according to market participants, most of whom expect another mill increase soon.

The consensus among market participants was...

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