Special bar quality (SBQ) steel prices in the United States have dropped due to reports of discounting prompted by continuing weak demand and declining ferrous scrap costs, Fastmarkets has learned.
On the hot-rolled side of the market, Fastmarkets' monthly price assessment for steel bar hot-rolled special bar quality (SBQ) 1-inch round 1000 series (carbon), fob mill US fell to $31.50 per cwt ($630 per short ton) on Friday July 17, down by 5.3% from June's $33.25 per cwt. On the cold-finished side, Fastmarkets' assessment for steel bar cold-finished 1-inch round 1018 (carbon), fob mill US declined to $50 per cwt ($1,000 per short ton), down by 3.4% from $51.75 per cwt one month earlier.The price for steel bar cold-finished 1-inch round 4140 (alloy), fob mill US also was under pressure, slipping to $69.50 per cwt ($1,390 per ton) from $70 per cwt one...