Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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May 2019 | North American Steels

US long prices pushed down by lower scrap costs, high inventories: US Long Product Highlights

With orders coming in slower than anticipated, partly due to customers looking to work down their inventories, US rebar prices have moved down to $685-705/short ton – and as low as $680/ton for larger orders – compared with $705-730/ton a month ago.

There are several conflicting signals in the US long products market this month. Over the past week, domestic mills reduced May published prices for most long products. The mill price reductions came despite early indications that demand is at least slightly brisker than it had been over the past few months and could continue to see gains as the weather improves and the construction jobs that have been put on hold could possibly be revived.

The price declines were not surprising given accelerating downward scrap price momentum, while inventories at both the mills and at distributors are...


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