Although sources report decent demand within the US domestic rebar market, individual dealmaking has dragged the lower end of the US rebar spot price range downward. Sources point out that deals are not widespread, but it’s increasingly common for customers to seek foreign fighter deals when placing domestic orders, and US mills are reportedly “very accommodating.”
As such, deals in the US domestic rebar market have been heard as low as $40.00 cwt. ($882/mt or $800/nt) ex-mill, but most of the lowest done deals are closer to $41.00 cwt. ($904/mt or $820/nt) ex-mill. The new rebar spot range for the Midwest is now about $41.50-$44.00 cwt. ($915-$970/mt or $830-$880/nt) ex-mill, while offers on the East coast are now around $41.00-$43.00 cwt. ($904-$948/mt or $820-$860/nt) ex-mill.