Winter weather puts freeze on rebar prices
Feb 04, 2014 | 04:59 PM
| Stacy Irish
NEW YORK Freezing weather conditions, depressed demand from the construction sector and healthy stock levels have frozen spot domestic concrete reinforcing bar prices for February production, market sources told AMM.
Transaction prices for domestic rebar are unchanged at $34.50 per hundredweight ($690 per ton) f.o.b. mill for small tonnages. Some mills were quoting offers at $35 per cwt ($700 per ton) but no deals were concluded at that level due to sluggish demand.
Market participants said there is a chance that domestic rebar prices could soften slightly as domestic ferrous scrap prices are expected to slide this month.....
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