After Nucor announced last week that it would raise rebar prices by $1.00 cwt. ($20/nt or $22/mt), effective with all new orders, Steel Dynamics Inc. followed suit. The increase amount was absorbed immediately into the market with little to no resistance from buyers, which has led some sources to speculate that mills might push the uptrend further.
When asked if another rebar price increase is on the horizon, one source said, “If scrap goes up again in April, you can bet on it.” However, other sources claim US rebar mills will set pricing policy “with caution,” as import offers are now below US domestic spot prices and the import tariff situation could change “literally on a whim.”
Until the scrap predictions for next month become clear, US domestic rebar prices are expected to trend stable in the range of $35.50-$36.50 cwt. ($710-$730/nt or $783-$805/mt) ex-mill in the Midwest, and $37.00-$38.00 cwt. ($740-$760/nt or $816-$838/mt) ex-mill on the East Coast.