For another week, US domestic rebar prices have maintained stability, but sources tell SteelOrbis that the pause in recent price declines is “temporary” and spot ranges are still considered “flexible.” Speculation that US domestic scrap prices might drop again slightly this month has left US rebar prices vulnerable, along with buying activity that is described as “level but not exciting.” Many buyers are reportedly waiting for lower prices, especially closer to the end of the year when rebar mills aim to fill lagging winter order books.
For now, US domestic rebar spot prices in the Midwest are unchanged at $48.00-$49.00 cwt. ($1,058-$1,080/mt or $960-$980/nt) ex-mill, while spot prices on the East coast are still around $49.00-$50.00 cwt. ($1,080-$1,102/mt or $980-$1,000/nt) ex-mill.