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.


Similar articles

Import longs offers in Romania now attractive, local prices stable

28 Mar | Longs and Billet

Turkish domestic dollar-based rebar spot prices soften

28 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

Rebar consumption in Mexico decreases 3.1 percent in January

27 Mar | Steel News

US rebar prices mostly stable with occasional deals

27 Mar | Longs and Billet

Downtrend reverses in Pakistan’s import scrap segment

27 Mar | Scrap & Raw Materials

Turkey seeks to raise rebar export offers, demand mostly seen locally

27 Mar | Longs and Billet

Iskenderun-based Turkish mill increases its rebar price      

27 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

US import rebar market remains quiet

26 Mar | Longs and Billet