Three major US steelmakers raise rebar prices by $60/t

At least three major US steel companies – Steel Dynamics, Commercial Metals Company (CMC) and Gerdau Long Steel North America – have announced a $60 per short tonne price increase for rebar. Kallanish reports this with reference to the companies’ letters to customers.

In addition to the basic increase, all three producers also increased the price of 20-foot rebar bars by an additional $40 per short ton.

Steel Dynamics prices have increased for all orders received after the close of business on Thursday, June 5. Orders confirmed prior to that date will remain at the old prices, provided they are shipped by June 21.

“We are constantly monitoring the North American market and strive to provide the highest quality products at competitive prices,” Steel Dynamics North America’s sales team said in a letter.

At CMC’s plants in South Carolina, Florida, Tennessee and New Jersey, the price increased on Friday, June 6. Orders placed by the end of the business day on Thursday are also protected from the increase, provided they are shipped by June 19.

At Gerdau Long Steel North America, the new prices took effect for orders received after the close of business on Friday. Orders confirmed earlier are also not subject to adjustment if the products are shipped before June 22.

In its announcement, Gerdau noted that it reserves the right to make adjustments to its pricing policy depending on the market situation in order to maintain a competitive position in the market.

As a reminder, rebar prices in the US decreased by 1.9% – to $765/t in May, breaking two months of stability. Although prices remained 7.7% higher than at the beginning of the year, the market showed signs of weakness amid declining demand, fluctuations in the scrap market, excess inventories and uncertainty over tariffs.