While sources report steady demand within the US domestic rebar market, others say they expect buying activity to move on an upward trend in the near-term, although it is unclear when—or if—that will mean a rise in spot prices. Although foreign fighter deals were prevalent during the summer, those deals are largely gone, sources say, and mills’ ability to keep most prices above the $40.00 cwt. ($882/mt or $800/nt) level means they’re in a good position to raise prices if so inclined.
However, sources say it may take a rise in scrap prices for rebar mills to push for higher prices—although it’s also reportedly possible that mills will slowly firm up prices within the range. For now, US domestic rebar spot prices are unchanged week-on-week in the range of $41.50-$43.00 cwt. ($915-$948/mt or $830-$860/nt) ex-mill in the Midwest, and $41.00-$42.00 cwt. ($904-$926/mt or $820-$840/nt) ex-mill on the East coast.