NEW YORK — Byer Steel Corp. has increased its price for A-996 reinforcing bar (rebar) grades 40 and 60 by 50 cents per hundredweight ($10 per ton), the company announced in a letter to customers March 4.
Existing open orders have until March 8 to be shipped in order to protect previous pricing levels, the Cincinnati-based rebar manufacturer said.
The price hike follows speculation last week that rebar prices would rise in March buoyed by an expected uptick in scrap prices (
amm.com, Feb. 28).