US Midwest rebar transaction prices rose Monday following another increase announcement from Commercial Metals Company on Friday.
S&P Global Platts on Monday raised its weekly US Midwest rebar assessment to $555-$570/st ex-works, up from $545-$570/st.
Demand is reported to be good heading in to fall, and there is an expectation in the market that other mills could announce increases as well.
A Midwestern buyer expected one other mill to follow CMC's announcement, but said he was "not sure it will stick."
"I think it definitely can stick," another Midwestern buyer said. "Supply is tight and there are limited import options that make sense."
