October 11, 2008

Rebar price likely to increase in US for June shipment

It is predicted that American steel mills’ rebar price for June shipment will be increased due to the rebound in scrap price this month.

However, manufacturers are worried about the increased price will greatly reduce their profit margin. At present, the traders’ spot price of rebar is around USD 1,080 per tonne up by USD 66 per tonne WoW.

Due to foreign steel mill prices continuing to increase, the American imported rebar price will be the same as the domestic price, following the strong trend of increasing prices.

(Sourced from Yieh.com)