While widespread import rebar foreign fighter deals had been recently dragging down the spot price range for US domestic rebar, sources say US rebar mills have become less willing to make deals this week. With early expectations for a sideways to slightly up scrap trend in September—an uptrend would be the first since March 2023—sources say higher scrap prices could give mills a “good excuse” to phase out deals.
This week, US domestic rebar spot prices are stable in the range of $41.50-$44.00 cwt. ($915-$970/mt or $830-$880/nt) ex-mill in the Midwest while offers on the East coast are still around $41.00-$43.00 cwt. ($904-$948/mt or $820-$860/nt) ex-mill.