Although spot prices for most customers in the US domestic rebar market remained stable this week in the range of $39.00-$41.50 cwt. ($780-$830/nt or $860-$915/mt) ex-mill, sources tell SteelOrbis that deals are becoming available for the largest distributors. Such deals depend on the customer and order size, but the lowest-heard deals are reportedly around $1.00-$2.00 cwt ($20-$40/nt or $22-$44/mt) below the low end of the general spot range.
However, sources say those deals are not likely to last moving into to the fourth quarter, with some attributing the deals to lower scrap prices in the US this month. Even if scrap prices drop again in October, sources say US rebar mills are still trying to find a way to raise prices one more time before the year is up.