Is another price increase on the horizon for US rebar?

Wednesday, 15 January 2020 22:01:36 (GMT+3)   |   San Diego
       

Although the most recent $1.50 cwt. ($30/nt or $33/mt) price increase for US domestic rebar took time to finally absorb into the market, sources tell SteelOrbis that spot prices “might not be done rising” after US domestic scrap prices increased this month. One source said that mills might “take advantage of the momentum” and quietly firm offers within current ranges on a customer-by-customer basis, but others contend that mills are not likely to issue another formal price increase in the near-term, especially considering US scrap prices are expected to move sideways next month.

For now, US domestic rebar spot prices are unchanged week-on-week, at $32.50-$33.00 cwt. ($650-$660/nt or $717-$728/mt) ex-mill in the Midwest, and $33.50 cwt. ($670/nt or $739/mt) ex-mill on the East Coast.


Similar articles

Import longs offers in Romania now attractive, local prices stable

28 Mar | Longs and Billet

Turkish domestic dollar-based rebar spot prices soften

28 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

Rebar consumption in Mexico decreases 3.1 percent in January

27 Mar | Steel News

US rebar prices mostly stable with occasional deals

27 Mar | Longs and Billet

Downtrend reverses in Pakistan’s import scrap segment

27 Mar | Scrap & Raw Materials

Turkey seeks to raise rebar export offers, demand mostly seen locally

27 Mar | Longs and Billet

Iskenderun-based Turkish mill increases its rebar price      

27 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

US import rebar market remains quiet

26 Mar | Longs and Billet