[Ferro-Alloys.com]

 

US and imported rebar again softened this week amid lacklustre demand.

 

Rebar ex-works Midwest was assessed at $870-880/short ton (st), down from $880-890/st last week, while rebar import ddp Houston eased to $830-850/st from $840-860/st last week.

 

The August domestic scrap trade kicked off on Thursday, with several regions trading sideways on prime grades and shred, and up $10-20/gross ton on cut grades and machine shop turnings. High temperatures, especially in the south, are leading not only to less rebar demand but tighter scrap supply as well, as collection is hampered by the weather. Domestic demand for rebar remains steady amid a sustained quiet summer market, though one market participant posited that it is still somewhat weaker than historically seasonal levels.

 

Still, any upward movement in August's scrap settle is not expected to provide any significant boost to domestic rebar prices that remain under pressure.

 

Demand remains slowed in Turkey, despite chatter of upcoming support as reconstruction from February's earthquake moves into the construction phase. argusmedia