September 07, 2008

American rebar price set to up again

It is predicted that American steel mills’ rebar price for June shipment will be increased due to the rebound in scrap price in May 2008.

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 an increase of USD 66 per tonne compared to last week.

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 YEIH.com)