Despite some attractive import rebar position offers at US ports, most US rebar buyers continue to largely stick with domestic mills for their orders due to shorter lead times and smaller tonnage minimums compared to import orders for future arrival. With demand for rebar continuing to trend relatively steady compared to other steel end-use sectors, and predictions of a sideways trend in scrap prices next month, sources predict US domestic rebar spot prices will remain firm.
As such, rebar spot prices are unchanged week-on-week, at $29.50-$30.50 cwt. ($650-$672/mt or $590-$610/nt) ex-mill in the Midwest and $29.00-$30.00 cwt. ($639-$661/mt or $580-$600/nt) ex-mill on the East coast this week.