Deals reportedly available in US rebar market

Wednesday, 31 July 2019 22:11:44 (GMT+3)   |   San Diego
       

After reporting last week diverging trends within the US domestic rebar market—some sources said the price bottom had been reached, while others weren’t so sure—sources have confirmed that US domestic rebar mills are still offering “aggressive” deals on larger orders. However, those deals are not expected to last much longer considering raw material and demand trends.

August scrap prices in the US are predicted to rise, which would give mills a degree of leverage when negotiating offer prices. Additionally, sources report strong demand in the fabrication sector, while supply levels are “decent to limited” depending on the mill.

Taking current deals into consideration, the general spot price range for US domestic rebar has lowered in the last week. Spot prices are now ranging from $32.50-$33.50 cwt. ($650-$670/nt or $717-$739/mt) ex-mill in the Midwest, reflecting a $0.50 cwt. ($10/nt or $11/mt) drop. Spot prices on the East coast, meanwhile, are now at $33.00-$34.00 cwt. ($660-$680/nt or $728-$750/mt) ex-mill, also reflecting a $0.50 cwt. decrease.


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