Steel wire rod, rebar prices hold flat

Jan 18, 2013 | 04:59 PM | Samuel Frizell

Tags  steel long products, wire rod, rebar, reinforcing steel bar, scrap, construction market, Samuel Frizell

NEW YORK — A sideways scrap market and continued lethargy in the construction sector have kept prices for steel long products largely flat this month, sources said, noting that the approaching debt ceiling in February is also serving to keep some would-be buyers out of the market.

"It looks like January will be an average month and there seems to be a lot of indecision," one rod buyer said. "No one is making any long-term commitments, and we’re looking at the late-February debt ceiling as the big problem that a lot of people have. Until this gets resolved, many small businessmen are not doing anything."....

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