While sources in the US domestic rebar market still contend that mills might announce a price increase next month to take effect in January, many are skeptical about the chances of a price increase being accepted in the market.
Demand is steady enough to support a $1.00-$1.50 cwt. ($20-$30/nt or $22-$33/mt) price increase, but many buyers say they feel prices are high enough, and with continued uncertainty in the import market—Section 232 tariffs could be replaced with quotas or eliminated entirely on a whim—the possibility of a sudden price decrease on imports has many US rebar buyers wary of stocking up too much on US domestic material.
Until anything is announced, US domestic rebar spot prices are expected to trend neutral, at $36.00-$39.00 cwt. ($720-$780/nt or $794-$960/mt) ex-mill, although ex-distributor deals are still being heard.