With US construction employment starting to pick back up, sources within the US domestic rebar market are reporting a growing sense of optimism about the remainder of the year. Most indicated the third quarter will be slower, but demand for rebar should hold out, preventing major declines in spot prices. However, sources do not believe that US rebar mills will try to raise prices in the near term, as imports are still flowing into US ports at slightly lower prices.
As such, US domestic rebar prices are steady week-on-week, although fewer deals have been reported for larger volumes. Midwest rebar spot prices are still at $29.50-$30.50 cwt. ($590-$610/nt or $650-$672/mt) ex-mill, while US domestic rebar spot prices on the East Coast are still ranging from $29.00-$30.00 cwt. ($580-$600/nt or $639-$661/mt) ex-mill.