Although nothing has been confirmed as of press time, US domestic rebar mills are expected to release an increase announcement any day--the only question, sources say, is whether mills will announce in solidarity, or if one will go for a higher increase than the others. As such, the current spot price range for US domestic rebar is in a holding pattern in the range of $33.50-$34.50 cwt. ($670-$690/nt or $739-$760/mt) ex-mill, and anyone looking to book before the inevitable increase might not have much time left.
One factor that does not appear to have much influence in mills’ pricing decisions for the moment is the attractive import deals currently available at the port. Traders tell SteelOrbis that while prices for arriving Turkish positions are on par with future order offers of $29.50-$30.50 cwt. ($590-$610/nt or $650-$672/mt) DDP loaded truck in US Gulf ports, purchasing activity is “lively” and they don’t expect that they will need to drop position prices anytime soon to garner orders.