Rebar steel prices in the southeastern US continued to climb this week as mills held firm to previously announced increases and another round of higher pricing kicked off Monday.
Platts on Monday raised its daily US rebar assessment for the region to $555-$570/st ex-works, up from $530-$545/st on Friday.
"In the Southeast, customers have no choice but to accept the domestic mills' higher pricing," said one distributor based in the region.
On Monday, Gerdau announced another $20/st increase on rebar products. The company continues to lead the pack in announcing increases, according to the distributor.
Higher rebar prices are also holding firm in the US Midwest, sources in the region said Monday, but acknowledged there is some concern that prices may have topped out.
Mills have been in the market looking for loads, which could indicate demand is slowing and prices may soften, said one Midwest fabricator.
"I think demand is good, but not great," the source said. "I think deals will be made."
But a Midwest distributor said he still sees solid demand for rebar.
"Prices are firm, [but] everyone worries if we topped out," he said. "Only time will tell."
Platts on Monday maintained its weekly Midwest rebar assessment at $560-$585/st ex-works.
