The US domestic rebar market continues to be defined by quiet activity and neutral prices after US scrap prices appear to be stabilizing. Most sources say they’re not entirely surprised about tepid demand levels because the summer season usually slow, and even if scrap prices start trending upward—as some early predictions for August imply—spot prices in the US rebar market are expected to stay range-bound until at least the end of summer.
For now, US domestic rebar prices are unchanged again week-on-week, at $43.50-$44.50 cwt. ($959-$981/mt or $870-$890/nt) ex-mill in the Midwest, and $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt) ex-mill on the East coast.