With demand for US domestic rebar continuing to lag, production capacity showing early signs of an increase, and expectations for US scrap prices this month pointing to a slightly up trend at best, US rebar prices remain vulnerable.
Slightly better demand conditions in the Midwest have kept spot prices in the region stable week-on-week at $29.50-$30.50 cwt. ($590-$610/nt or $650-$672/mt) ex-mill, but on the East coast, the spot price range has shifted downward. US domestic rebar spot prices on the East Coast are now at $29.00-$30.00 cwt. ($580-$600/nt or $639-$661/mt) ex-mill, reflecting a $1.00 cwt. ($20/nt or $22/mt) drop on the low end and a $0.50 cwt. ($10/nt or $11/mt) drop on the high end of last week’s range.