After dropping $1.00 cwt. ($22/mt or $20/nt) last week, US domestic rebar spot prices are still under pressure from lackluster demand during the seasonal lull. Sources tell SteelOrbis that while the general spot range is still $32.00-$33.00 cwt. ($705-$728/mt or $640-$660/nt) ex-mill--unchanged from last week--some deals are available at about $0.50 cwt. ($11/mt or $10/nt) less. However, even though such deals are not limited to large orders or special customers, they will most likely be temporary--early speculation points to a possible uptrend in scrap prices next month.
Import rebar offer prices are also unchanged on paper this week, and like the US domestic rebar market, remain susceptible to deals. Turkish mills are reportedly trying to hang on to the general offer range of $30.00-$31.00 cwt. ($661-$683/mt or $600-$620/nt) DDP loaded truck in US Gulf ports, but weak interest in the US for imported product has resulted in some sub-$30.00 cwt. deals. Mexican mills are also flexible with their general range of $30.50-$31.50 cwt. ($672-$694/mt or $610-$630/nt) DDP loaded truck delivered to US border states, especially for substantial order sizes.