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Rebar fabricator closes on slim margins

Keywords: Tags  rebar, rebar fabrication, Palmetco Steel, Suncoast Post-Tension, Henrik Palme, profit margins, Samuel Frizell

NEW YORK — Palmetco Steel Inc. shut down Sept. 16 and sold all of its assets to Houston-based Suncoast Post-Tension LP, citing tough competition, slim margins and the lingering effects of the recession.

Henrik Palme, owner and president of the rebar fabricator, said his San Antonio-based company was in business independently for 30 years before margins tightened and he consistently lost bids to competitors.

The toughest competition came from mill-owned fabricators, Palme said.

The price of fabricated rebar varies greatly depending on region, the size of an order and other factors, but market sources informally polled by AMM were in general agreement that the price of fabricated rebar has decreased by about $100 per ton over the past year.

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