Domestic Price Increase

Domestic Price Increase

Friday night, a major rebar manufacturer announced a $30/ton increase. Other mills have wasted little time to follow that move with increases of their own. The move was undoubtedly a reaction to continued tight supply and not being able to keep up with customer demand. Despite a slower upcoming seasonal demand and sideways scrap pricing in November, mills feel the market is strong enough to support the increase. Currently, there is not a lot of competition to suggest otherwise. The increase affects all new orders.

We will continue to keep you posted on market developments.