Domestic and imported reinforcing bar (rebar) prices increased as supplies remain tight.
The Argus rebar ex-works Midwest assessment was assessed in a range of $1,190-1,220/short ton (st) compared to last week's $1,120-1,140/st.
The Argus rebar import ddp Houston assessment moved up slightly to $1,190-1,200/st from $1,180-1,200/st.
Domestic supply was said to be tight and unable to keep up with demand, which one market contact called "phenomenal."
Imported supply was limited as costs and credit requirements kept some at bay, sources said.
Despite the high costs in March long product imports rose by 45pc to 572,300 metric tonnes (t) compared to the prior year, according to preliminary data from the US Department of Commerce.
Wire rod imports more than doubled to 168,700t in March from 65,300t in 2021, driven by increases from India, Malaysia and Mexico. Rebar imports rose by 15pc to 147,200t, with Algeria and Mexico both more than doubling their volumes to 58,500t and 55,200t, respectively.
