Rebar steel prices in the southeastern US continued to climb this week as mills held firm to previously announced increases and another round of higher pricing kicked off Monday.
Platts on Monday raised its daily US rebar assessment for the region to $555-$570/st ex-works, up from $530-$545/st on Friday.
"In the Southeast, customers have no choice but to accept the domestic mills' higher pricing," said one distributor based in the region.
On Monday, Gerdau announced another $20/st increase on rebar products. The company continues to lead the pack in announcing increases, according to the distributor.
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