US rebar mills raise rebar prices as predicted

Friday, 02 December 2016 00:49:41 (GMT+3)   |   San Diego
       

In a letter to customers late Thursday, Nucor announced it will be raising prices on rebar by $1.25 cwt. ($25/nt or $28/mt), effective with new orders as of December 2, 2016.
 
The company added that all confirmed orders as of the close of business on December 1, 2016 will be price protected if shipped before January 1, 2017. 
 
Today, SDI and CMC responded with similar price increases for rebar. Sources say market absorption of the increase is expected to be swift, and as such, by next week US domestic rebar spot prices should lift into the range of $28.75-$30.75 cwt. ($575-$615/nt or $634-$678/mt) ex-mill.

Similar articles

Import longs offers in Romania now attractive, local prices stable

28 Mar | Longs and Billet

Turkish domestic dollar-based rebar spot prices soften

28 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

Rebar consumption in Mexico decreases 3.1 percent in January

27 Mar | Steel News

US rebar prices mostly stable with occasional deals

27 Mar | Longs and Billet

Downtrend reverses in Pakistan’s import scrap segment

27 Mar | Scrap & Raw Materials

Turkey seeks to raise rebar export offers, demand mostly seen locally

27 Mar | Longs and Billet

Iskenderun-based Turkish mill increases its rebar price      

27 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

US import rebar market remains quiet

26 Mar | Longs and Billet