NEW YORK Participants in the merchant bar market do not expect a price hike following a recent $10-per-ton (50-cents-per-hundredweight) rebar increase by domestic mills (amm.com, Oct. 15).
"I dont expect anything on merchants. I think rebar is only going up because of the anti-dumping cases," a source at one East Coast distributor said, referring to a trade complaint filed recently against Mexican and Turkish rebar producers.
"It might be (the dumping cases), it could be that scrap is getting a little bit of strength and construction is getting just a little bit of legs now, at least residential. Its probably a combination of all three factors," a Midwest distributor source said of the rebar hike.
In contrast, merchant bar demand remains tepid.
The Midwest source said he would be surprised if merchant bar mills raised prices. "Demand still hasnt changed."
It was the first rebar increase since mills divorced pricing from a raw material surcharge earlier this year (amm.com, June 6).