The International Rebar Producers and Exporters Association (IREPAS) has reported record high steel prices in the European Union and the US on firm demand amidst supply crunch. Rebar prices in the EU market have touched a 13-year high due to limited stocks at mills. Lack of import options has forced buyers to book material at higher prices. On the other hand, long steel prices in the US are as high as ever and are likely to continue to remain high throughout CY’21, according to IREPAS.
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