Rebar price hikes hold despite uncertainty

Dec 05, 2012 | 03:15 PM | Michael Cowden

Tags  Reinforcing bar, rebar, steel, long products, merchant products, angles, channels, flats fiscal cliff

CHICAGO — Announced price hikes for concrete reinforcing bar and merchant angles, channels and flats have largely stuck as mills have held the line on tags, even as political uncertainty in the United States leaves some buyers jittery.

While some brushed off concerns about the budget showdown in Washington as overblown, they nonetheless conceded that the political drama had stoked concerns that could see projects delayed and buyers more reluctant to place orders.

"People have to plan for the worst-case scenario. It’s just human nature," one structural steel buyer said.

A construction industry source agreed that the fiscal cliff theatrics were slowing business. "Someone needs to take a few Republicans, a few Democrats, get a few beers and settle this thing so the rest of us can get on with business," he said.....