Although demand for US domestic rebar has not dwindled as much as anticipated week-on-week, sources tell SteelOrbis that the trend remains pointing downward, and offer prices remain vulnerable. Sources say rebar prices will continue to drift below the $30.00 cwt. ($600/nt or $661/mt) ex-mill level, with some sources predicting that US domestic rebar prices could sink to around $27.00 cwt. ($540/nt or $595/mt) ex-mill by the end of Q2.
For now, US domestic rebar prices have held steady week-on-week, but sources say that will likely change by next week. Current rebar spot prices are holding at $30.00-$31.50 cwt. ($600-$630/nt or $661-$694/mt) ex-mill in the Midwest, $30.50-$32.00 cwt. ($610-$640/nt or $672-$705/mt) ex-mill on the East coast.