Forecasts for the US domestic rebar market continue to point to stability, and with early predictions of a sideways scrap trend next month, sources say current offer ranges should hold for a while. However, sources continue to report deals below those ranges, mostly in response to import offers, and it’s unclear when or if such dealmaking will taper off.
For now, US domestic rebar offers are stable at $41.00-$42.00 cwt. ($904-$926/mt or $820-$840/nt) ex-mill in the Midwest, and $40.50-$41.50 cwt. ($893-$915/mt or $810-$830/nt) ex-mill on the East coast. Several deals, however, are reported below the $40.00 cwt. ($882/mt or $800/nt) level.