Scrap rise boosts rebar prices

Jan 16, 2014 | 05:25 PM | Stacy Irish

Tags  steel, rebar, rebar prices, ferrous scrap, shredded automotive scrap, rebar imports, Mexico, Turkey construction activity

NEW YORK — Higher scrap prices have pushed domestic rebar prices up by $20 per ton despite sluggish end-user demand from the construction sector, market sources said.

AMM’s spot No. 5 Grade 60 rebar price has jumped to $690 per ton ($34.50 per hundredweight) f.o.b. mill from $670 f.o.b. ($33.50 per cwt) previously.

"Everyone expected the increases from rebar mills since scrap prices are up $23 per ton," a Mid-Atlantic distributor said.....

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