West Coast Rebar Prices Bump – $30/ton
Last night, in a somewhat surprising move, a major rebar mill bumped pricing at its West Coast mills $30/ton on all new orders, effective immediately. Mills out West had been indicated as being oversold for the past several weeks, and that point likely led to the announcement. Other West Coast mills have wasted little time in following the move with announcements of their own. The market will digest this news in the days ahead, and mills will pressure the increase to be put in place by the end of the month. While this only impacts the Western markets, the rest of the country will be watching to see if the increase will “stick” out West as they evaluate their own markets.
We will continue to keep you posted on rebar developments.
