Rebar prices rise on strong demand
Aug 29, 2014 | 04:34 PM
| Nat Rudarakanchana
NEW YORK U.S. rebar markets remained strong in late August, with market participants reporting busy mills, robust demand and stable to higher prices.
"Its absolute wildfire," one major distributor said about the rebar market. "I havent seen it like this since 2007 or 2008. ... Prices arent running up, but demand is just crazy right now."
AMMs price assessment for domestic rebar rose 50 cents to $33 per cwt ($660 per ton).
Supply is very tight given this outburst of demand, according to the distributor, with mill rolling schedules heavily sold out. He predicted that domestic mills would successfully raise prices again in September, even after introducing a recent series of summer price increases (amm.com, Aug. 18).....
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