US rebar market unaffected by shifting scrap trends

Wednesday, 21 October 2020 22:56:54 (GMT+3)   |   San Diego
       

Even when the US domestic scrap trend for November was expected to shift downward, sources told SteelOrbis that the impact on the US domestic rebar market would be some deals for large distributors, but otherwise the market would continue chugging along at the status quo. Now that scrap forecasts have shifted to a likely sideways trend next month, sources in the US rebar market continue to say the impact will be minimal.

Demand for rebar in the US remains steady, and even with an expected slowdown in construction activity during the upcoming winter months, sources do not foresee a slide in rebar prices. Current spot prices are unchanged week-on-week, at $31.50-$32.50 cwt. ($694-$717/mt or $630-$650/nt) ex-mill in the Midwest, and $31.00-$32.00 cwt. ($683-$705/mt or $620-$640/nt) ex-mill on the East coast.


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