US rebar mills are expected to hike rebar prices again for August shipments.
A combination of shredded scrap prices soaring by USD 32 to USD 36 per tonne and few imports of rebar was the main reason behind. Nucor is predicted to raise its rebar price by USD 66 per tonne.
US domestic mills were offering USD 1,080 per ton to USD 1,091 per tonne for July shipments. The import prices from agents are being quoted at USD 1,146 per ton to USD 1,191 per ton.
(Sourced from YIEH.com)
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