US domestic rebar increases this week while wire rod stays flat, and scrap remains sideways to lower at the beginning of this month. The market trend and the mood is under effect of the situation in the import segment, since the activity there has practically dwindled due to still valid 50 percent tariff.
“The decline of import rebar inventories continues this week,” said a SteelOrbis insider. In the weekly rebar spot markets, domestic supply on an FOB mill basis was assessed with most transactions noted at $44.50-45.50/cwt, ($890-910/nt or $981-1,003/mt), on average $45.00/cwt, ($900/nt or $992/mt), up $1/cwt ($20/nt or $22/mt) from seven days ago.
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.