US domestic rebar prices start to soften

Wednesday, 11 September 2019 20:09:03 (GMT+3)   |   San Diego
       

Expectations for US domestic rebar prices this month pointed to continued vulnerability, especially as US domestic scrap prices were predicted to drop again. But after shredded scrap prices declined last week by as much as $40/mt depending on the region, surpassing initial estimates, sources tell SteelOrbis that US rebar buyers are in an “advantageous position” and mill willingness to cut deals is becoming more widespread.

This week, US domestic rebar spot prices have dropped by about $0.50 cwt. ($10/nt or $11/mt) on average, with further downticks expected. US rebar prices in the Midwest are now trending at $32.00-$33.00 cwt. ($640-$660/nt or $705-$728/mt) ex-mill, while rebar offers on the East Coast are now in the range of $32.50-$33.50 cwt. ($650-$670/nt or $717-$739/mt) ex-mill.

Sources tell SteelOrbis that the only “bright spot” in the US domestic rebar market is a general disinterest in imports for the time being, as import offers are expected to decline further and buyers are waiting for hints of a price bottom before booking large orders.


Similar articles

Major steel and raw material futures prices in China - March 29, 2024

29 Mar | Longs and Billet

Domestic rebar prices in Taiwan - week 13, 2024

29 Mar | Longs and Billet

Import longs offers in Romania now attractive, local prices stable

28 Mar | Longs and Billet

Turkish domestic dollar-based rebar spot prices soften

28 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

Rebar consumption in Mexico decreases 3.1 percent in January

27 Mar | Steel News

US rebar prices mostly stable with occasional deals

27 Mar | Longs and Billet

Downtrend reverses in Pakistan’s import scrap segment

27 Mar | Scrap & Raw Materials

Turkey seeks to raise rebar export offers, demand mostly seen locally

27 Mar | Longs and Billet

Iskenderun-based Turkish mill increases its rebar price      

27 Mar | Longs and Billet