U.S. Rebar market stays flat

U.S. Rebar market stays flat

Since last week, import rebar prices have softened slightly, with prices now ranging from $21.75 cwt to $22.75 cwt ($479.51 /mt to $501.55 /mt or $435.00 /nt to $455.00 /nt). This represents a price decrease of $0.25 cwt. ($5.51 /mt or $5.00 /nt). Prices are loaded truck at US Gulf ports. US East Coast ports are approximately $0.50 cwt. ($11.02 /mt or $10.00 /nt) more expensive. While prices have softened as expected, prices are not expected to change for at least a week or two. Turkish mills are still hungry and looking for orders, but the scrap decreases in their region are probably over. Still, it is going to be a challenging period, as the Turkish mills will have to contend with the lack of demand that is plaguing their usual export markets. On the domestic side, prices have not changed since last week. Prices remain at a range of $24.25 cwt to $25.25 cwt ($534.62 /mt to $556.76 /mt or $485.00 /nt to $505.00 /nt). The pricing trend is flat. As SteelOrbis has previously reported, domestic rebar prices are not expected to go up any further this year. In the medium term, domestic prices should start to pick up in the first quarter of next year, as the construction activity begins in the North.