Sources continue to report strong end-use demand for rebar, but with a slight loosening in supply, expectations for rebar prices for the remainder of the year remain up in the air. Some sources point to predictions of higher scrap prices in November and December as an indicator that rebar mills will lift prices. But others are skeptical, noting other recent scrap price increases that passed by without a market-wide price jump.
For now, US domestic rebar spot prices are unchanged week-on-week in the range of $51.00-$53.00 cwt. ($1,124-$1,168/mt or $1,020-$1,060/nt) ex-mill in the Midwest, and $50.00-$52.00 cwt. ($1,102-$1,146/mt or $1,000-$1,040/nt) on the East coast.