As the US domestic rebar market awaits the results of the Section 232 investigation (which, according to US DOC Secretary Wilbur Ross, should occur by the end of this month), deals and discounts for large distributors are becoming increasingly rare, according to sources. And while US rebar mills opted to hold back on an official price increase following the final results of the AD/CVD probe into imports from Turkey and Japan, at least one regional mill isn’t waiting to take advantage of the import situation.
Last week, CMC Arizona announced a $1.25 cwt. ($25/nt or $28/mt) rebar price increase, effective immediately. While other mills have not issued an official response, sources tell SteelOrbis that other rebar mills in the Southwest region will likely match the increase on an “off the record” basis. As for other regions, official price levels are expected to remain level in the near-term (until Section 232 results are released), but sources say there is a distinct effort to firm up spot prices within the current range.
This week, the US domestic rebar spot range is unchanged at $30.75-$32.25 cwt. ($615-$645/nt or $678-$711/mt) ex-mill, although sources say that offers on the lower end of the range are “nearly impossible” to get for even medium-sized orders. Meanwhile, large orders from major distributors are still subject to deals at or below the low end of the range, but those deals are not expected to last.