US domestic rebar mills are reportedly trying to keep rebar prices from dipping too far, but the steep scrap price decline this month has left buyers with most of the leverage. However, deals are not uniform, with buyers in the Midwest paying slightly higher prices than regions near ports where imports are a more viable option.
This week, US domestic rebar spot prices in the Midwest are around $44.00-$45.00 cwt. ($970-$992/mt or $880-$900/nt) ex-mill, while offers on the East coast are closer to $43.00-$44.00 cwt. ($948-$970/mt or $860-$880/nt) ex-mill.