August Scrap Post

August Scrap Post

Late last week, Chicago shredded scrap posted down $10/ton from the previous month at $420/ton. The decline broke a streak of 4 consecutive months of scrap at $430/ton for the Midwest region. Mills were finally able to push pricing down in the Chicago market all-be-it, not likely enough to move the needle on rebar pricing. Most expect rebar pricing to remain very strong thru the end of the year, especially in the Midwest region with mills keeping the benefit of the raw material decline.

We will continue to keep you posted on events related to rebar. Have a great week ahead.