After US domestic shredded scrap settled at a sideways trend this month, sources do not expect a shift in US domestic rebar prices in the immediate term. However, with continually steady demand and early hints that US scrap prices might tick upward in December, sources tell SteelOrbis that US domestic rebar prices are likely to rise again before the end of the year.
For now, US domestic rebar spot prices are roughly stable from last week, although some sources report less availability of prices at the low end of the general price ranges. In the Midwest, the range is still $31.50-$32.50 cwt. ($694-$717/mt or $630-$650/nt) ex-mill, and $31.00-$32.00 cwt. ($683-$705/mt or $620-$640/nt) ex-mill on the East coast.