After President Biden signed the infrastructure bill into law earlier this week, sources within the US domestic rebar market are still optimistic about the long-term effects of the funding, but most think the short-term effects will be moderate. Pricing is currently too high to incentivize stockpiling for the spring just yet, sources say, and unless European producers start offering significant deals once the US-EU tariff rate quota system goes into effect in January, US rebar prices are expected to trend relatively steady for the rest of the year.
As such, US domestic rebar spot prices are once again unchanged week-on-week, still trending at $53.00-$55.00 cwt. ($1,168-$1,213/mt or $1,060-$1,100/nt) ex-mill in the Midwest, and $52.00-$54.00 cwt. ($1,146-$1,191/mt or $1,040-$1,080/nt) ex-mill on the East coast.