Bar market split on possibility of hikes on scrap price gains

Apr 11, 2014 | 06:00 PM | Thorsten Schier

Tags  Rebar, merchant bar, prices, scrap metal, wire rod, Thorsten Schier

NEW YORK — Rebar and merchant bar sources are split on the likelihood of price increases in those markets after a rise in scrap tags this month that has since led to a $20-per-ton ($1-per-hundredweight) wire rod increase by most U.S. mills.

Rebar sources polled said an increase was likely after scrap prices climbed in March and demand is starting to pick up in some regions due to improving weather.

"You would think that they will be announcing something. We’re starting to be busier here now because it’s getting warmer," one rebar fabricator in the Midwest said.....

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