Predictions of another downtrend in US domestic scrap prices for August—or a sideways trend at best—has kept US domestic rebar prices vulnerable to further downticks. Soft import prices are also continuing to put pressure or US rebar spot prices, which are down another $1.00 cwt. ($22/mt or $20/nt) week-on-week across the board.
US domestic rebar spot prices in the Midwest are now at $51.50-$52.50 cwt. ($1,135-$1,157/mt or $1,030-$1,050/nt) ex-mill, compared to of $52.50-$53.50 cwt. ($1,157-$1,179/mt or $1,050-$1,070/nt) ex-mill last week. On the East coast, US rebar spot prices are now at $52.00-$53.00 cwt. ($1,146-$1,168/mt or $1,040-$1,060/nt) ex-mill, compared to $53.00-$54.00 cwt. ($1,168-$1,191/mt or $1,060-$1,080/nt) ex-mill last week.