Research

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

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June 2019 | Steel Forecaster


Hesitant demand and weak scrap prospects depress prices: International Long Product Market Analysis


Turkish bar mills cannot take immediate advantage of their lowered tariff while US service centres refuse to buy from abroad.

Slowing construction demand, excess stocks and expectations of price have combined to depress rebar prices in the US. Construction spending is still rising but at a continually slowing pace. Despite the Section 232 tariff, import offers were competitive at the start of the year, and although domestic prices fell after peaking in March - the price for ordinary grades is now at $728 per tonne, only $10-15 per tonne above current import offers, tonnage ordered in the first quarter has continued to flow into the country - at 113,785 tonnes May rebar imports were 69% higher than in April....

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