What is going on with rebar prices?29-06-2021 | W. van Wijngaarden
You've probably already heard something about it. The prices of building materials, including rebar, have risen dramatically in recent times. The prices of rebar always fluctuate somewhat, but we are now dealing with a rare situation. Not before have prices risen so sharply and so frequently.
Why have rebar prices increased?
There is no simple one-size-fits-all answer to that question. There are many different factors that cause it. Reasons for today's price increases include:
- suddenly increased need for material causing scarcity in,
- increased raw material prices,
- manufacturers with capacity problems who consequently deliver less and/or later,
- developments in China and the US and
- European import taxes and quotas.
All of this to a greater or lesser extent related to COVID-19. In any case, it is a fact that since the last quarter of 2020, steel prices and scrap prices (rebar is largely made from scrap iron) have risen considerably.
How do I keep up to date with the price of rebar?
On our customer service page, under Product information, you will find a chart in which we keep track of the developments of rebar prices per quarter. In the chart, the price index of reinforcing bars is included. This gives you a rough idea. The prices of our products such as reinforcing mesh or rebar cages will also follow this trend.
Figure 1. Index of rebar prices
What are the consequences of the price increase for you as a customer?
We follow the trend of fluctuating prices. So, if you have done some preliminary research on the website and are actually going to order a week later, the prices may have changed. And because price changes are very unpredictable these days, the quotes we send out are currently valid for one day. If you respond to the quote a little later, we will still be happy to deliver the reinforcement to you. However, the price may have changed. We look at the prices that are valid at that moment.
Do not hesitate to ask your questions!
We are clear in our messages to you as a customer. When we make an offer, we indicate how long it is valid. An invoice will tell you what you need to bear in mind in connection with price increases. However, if you still have questions about the price increases, in general, or about your specific situation, do not hesitate to contact us. We are happy to think along with you!