US domestic rebar prices decline further

Wednesday, 29 May 2019 21:28:08 (GMT+3)   |   San Diego
       

With renewed import rebar competition and predictions for a sideways trend in US scrap prices next month, US domestic rebar price continue to trend vulnerable, sources tell SteelOrbis. Spot prices have dropped another $0.50 cwt. ($10/nt or $11/mt) in the last week, bringing the general range to $33.50-$34.50 cwt. ($670-$690/nt or $739-$761/mt) ex-mill in the Midwest, and $35.00-$36.00 cwt. ($700-$720/nt or $772-$794/mt) ex-mill on the East Coast.

Sources tell SteelOrbis that price downticks will likely stabilize going into the summer on low seasonal activity, but looming competition from imports means deals will “definitely be available” to buyers from US rebar mills.


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