US mills have raised domestic rebar prices for the second time this month, Kallanish reports.

According to letters sent customers, several US mills including Commercial Metals Company, Steel Dynamics Inc, and Gerdau raised their respective rebar base prices over the weekend by $40/short ton. 

The latest mill hike marks the second $40/st price this month and the fourth increase this year. 

Earlier last week, a US distributor explained that rebar mill prices have increased steadily throughout the year, at nearly two month intervals, "but increasing scrap prices may push rebar higher sooner than anticipated."

US rebar spot prices for #4 products in 20-foot sticks are at $840-860/st. All prices are ex-works, domestic mill.