NEW YORK Rebar
prices were unchanged this month for most buyers after months
of price stagnancy, and market sources are divided about
whether the rebar trade case against Turkey and Mexico will
have an immediate effect on pricing.
It is unclear if
domestic mills will be able to raise their rebar prices in the
short term after the trade petition filed Sept. 4 against
Turkish and Mexican rebar imports (
amm.com, Sept. 4).
Rebar prices have
remained at around $645 per ton ($32.25 per hundredweight) for
three and a half months, but buyers reported pries for some
rebar sizes at certain mills have increased since the case was
The threat of
anti-dumping duties will cause Turkish product to diminish in
the market, traders and rebar buyers said (
amm.com, Sept. 9), however it is unclear whether
the domestics will be able to take advantage of the recaptured
market share immediately by raising prices across the
With mediocre demand
in many regions and thin backlogs, some rebar buyers said the
market wouldnt support an increase in the short term.
"The only way in my
mind they could justify an increase is if they had an uptick in
volume and they saw a purported shortage," a rebar fabricator
in the Midwest said.
AMMs Chicago shredded automotive scrap price
again falling about $10 this month, some rebar buyers might
even expect a decrease from their suppliers.
But with rebar prices
increasingly divorced from scrap prices (
amm.com, May 5) , the mills might use the threat
of duties to raise prices as they recapture domestic market
"Nobody wants to buy
futures from Turkey or Mexicotheyre all worried
about supply interruptions. Domestics are already getting
bullish, and Im expecting a price announcement
imminently," a rebar distributor in the Midwest said. "Why do
you think they pulled away from the scrap surcharge? Now it
gives them full reign to bring prices up."