Demand in the US domestic rebar market is slower than usual for this time of year, which sources attribute to wet weather conditions in certain regions of the US that is hampering construction activity and hindering transportation. Due to such market conditions, US domestic rebar prices are especially vulnerable to scrap trends, and sources predict an upcoming price correction if US domestic scrap prices decline in May again after dropping this month.
Until the scrap trend becomes clear, US domestic rebar spot prices are stable in the general range of $35.50-$36.50 cwt. ($710-$730/nt or $783-$805/mt) ex-mill in the Midwest, and $37.00-$38.00 cwt. ($740-$760/nt or $816-$838/mt) ex-mill on the East Coast. Source say mills are not offering many deals at this point, but that could change once scrap prices settle in May.