Spot prices within the US domestic rebar market are unchanged week-on-week, and sources tell SteelOrbis they expect continued stability throughout the month. While there was previously some speculation that US shredded scrap prices could rise slightly this month, current projections based on the ongoing buy-cycle indicated a sideways trend might be most likely.
With stable scrap prices and decent demand that has not increased post-summer yet, sources say US rebar prices will probably stay range-bound for the near term. This week, US domestic rebar spot prices are unchanged at $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.