Purchasing activity within the US domestic rebar market has slowed this week ahead of the Fourth of July holiday next week. However, activity is already slower than usual for this time of year as the market awaits the results of the Section 232 investigation. While some sources tell SteelOrbis “it’s a good time to stock up before prices spike,” the uncertainty revolving around the investigation has left buyers hesitant to bulk up inventories during the summer season.
For now, overall US domestic rebar prices remain stable in the range of $30.75-$32.25 cwt. ($615-$645/nt or $678-$711/mt) ex-mill, although prices are still elevated in certain regions including the Southwest, while prices are negotiable for deals in other regions including the Southeast.