Steel rebar mills dig in heels on prices

Jun 20, 2013 | 05:33 PM | Samuel Frizell

Tags  rebar, reinforcing bar, construction, Architecture Billings Index, Nucor Corp., Gerdau Long Steel North America, mills, buyers fabricators

NEW YORK — Rebar mills have dug in their heels to counter a two-month slide in prices, with volumes starting to improve from previously lackluster levels and construction projects slowly moving off the ground.

Rebar prices retreated in April and May from a February high of about $690 per ton ($34.50 per hundredweight) but appear to have struck bottom this month at around $645 per ton ($32.25 per cwt), with prices varying based on region and order size. ....

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