While many within the US domestic rebar market do not expect prices to rise any further, few are expecting mills to become more open to deals in the near-term. One source said that mills will have to “bend eventually,” in light of a significant jump in import arrivals this month, which includes “plenty of spot tons” for buyers at prices below current domestic offers. But the general consensus remains that while a downtrend in rebar prices is inevitable, it’s not imminent quite yet.
As such, US domestic rebar spot prices are unchanged week-on-week in the range of $51.00-$53.00 cwt. ($1,124-$1,168/mt or $1,020-$1,060/nt) ex-mill in the Midwest, and $50.00-$52.00 cwt. ($1,102-$1,146/mt or $1,000-$1,040/nt) on the East coast.