Demand is steady within the US domestic rebar market, as the import market remains “uncharacteristically” tepid despite arrivals now set for Q1. With many buyers still turning to domestic mills for material, along with predictions of a scrap price increase this month, sources say “conditions are ripe” for a potential rebar price increase.
Whether or not US rebar mills announce an official price increase—sources say the scrap uptrend would have to be $20-$30/mt at minimum to enable a rebar price hike—spot prices are likely to move upward, according to sources. For now, however, US domestic rebar spot prices are unchanged week-on-week, still in the range of $41.00-$42.00 cwt. ($904-$926/mt or $820-$840/nt) ex-mill in the Midwest, and $40.50-$41.50 cwt. ($893-$915/mt or $810-$830/nt) ex-mill on the East coast.