After US shredded scrap prices trended sideways this month, sources say there is “no reason” why US domestic rebar spot prices should move beyond current ranges. Demand is on the slow side due to normal seasonal reasons, but ordering activity is reportedly “chugging along” with reports of deals for certain customers still being heard.
This week, US domestic rebar spot prices are unchanged 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.