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18 Jun

Weak fundamentals pressure US rebar prices

US domestic rebar prices are lower for a third consecutive week, weighed down by a weaker US scrap market and lacklustre demand prospects, Kallanish hears from market participants. The item could be nearing an inflection point, however. Pricing for US domestic #4 rebar in 20-foot sticks has declined to a new range of $760-$780/short ton, from $770-790/st last week. This marks the lowest level since May 2021. Weaker June scrap pricing, ample near-term domestic sc…
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