Spot prices within the US domestic rebar market are mostly unchanged week-on-week, as eagerness to push the early-March mill price increase forward is tempered by plenty of mill availability. Sources say US rebar buyers can find domestic material for immediate shipment, and while mills would “prefer” to push through higher prices, they’re not overly aggressive at the moment.
Another rebar price increase might be announced in April, sources say, but the chances of that happening are tied with US scrap prices next month, which are now predicted to move sideways after initial optimism for higher scrap prices. Without the boost from raw material inputs, sources say rebar mills will have a hard time trying to raise prices again. For now, US domestic rebar spot prices are unchanged week-on-week at $47.50-$48.50 cwt. ($1,047-$1,069/mt or $950-$970/nt) ex-mill in the Midwest and East coast.