US domestic rebar and wire rod are both flat this week as scrap remains sideways in August. A record low of US imports and extended domestic lead times are causing a tight supply environment in the country.
In the weekly rebar spot markets, domestic supply on an 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. “Demand may be picking up especially due to the need for data centers and institutional and medical buildings,” according to a long steel insider.
In the domestic wire rod market, domestic supply on an 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.