US domestic rebar and wire rod prices have remained unchanged this week as scrap stays sideways to lower. Domestic availability in the US is being discussed as an issue where import products are predominantly being sold. Transitioning to September, the steel market should start to move out of the “summer doldrums” reported last week.
In the weekly rebar spot markets, domestic supply on FOB mill basis was assessed with most transactions noted at $43.50-44.50/cwt ($870-890/nt or $959-981/mt), on average $44.00/cwt, ($880/nt or $970/mt), unchanged from seven days ago. “The domestic rebar is expected to move slightly higher next week,” according to a long steel contact.
In the domestic wire rod market, domestic supply on FOB mill basis was assessed with most transactions reported this week at $46.50-47.50/cwt ($930-950/nt or $1,025-1,047/mt), or an average of $47.00/cwt ($940/nt or $1,036/mt), unchanged from seven days ago.