Buying activity within the US domestic rebar market has slowed in the last week of the month, as sources tell SteelOrbis that most customers are waiting until March to place new orders. Part of the reason for the delay is interest in how the US domestic scrap market will trend. While previous predictions pointed to a sideways move for scrap prices, the latest expectations indicate a slight upward trend.
Until the scrap situation is clear, US domestic rebar spot prices are expected to continue ranging from $32.50-$33.00 cwt. ($650-$660/nt or $717-$728/mt) ex-mill in the Midwest, and $33.50 cwt. ($670/nt or $739/mt) ex-mill on the East Coast.