Sources still predict an upcoming “plateau” for US domestic rebar prices followed by a price correction near the end of this quarter, but in the meantime, US rebar mills are “apparently not done” raising prices. This week, CMC and SDI announced a $1.00 cwt. ($20/nt or $22/mt) price increase, effective immediately, which would push US rebar spot prices up to $41.50-$42.50 cwt. ($830-$850/nt or $915-$937/mt) ex-mill for small to medium-sized buyers, and around $37.00-$38.00 cwt. ($740-$760/nt or $816-$838/mt) ex-mill for large distributors. However, Nucor has not yet announced its own price increase as of this posting, leaving spot prices stable at last week’s range—minus the $1.00 cwt. increase—for now.
However, sources tell SteelOrbis that prices are not currently the top concern in the US domestic rebar market. Tight supply and long lead times are more concerning, with some mills quoting all they way out for July shipments. One source said he’s wary of the situation considering all the ways in which the market might look different in three months. If domestic prices start to scale back as predicted, and the import market gains clarity with finalized tariff exemption deals, those high-priced rebar shipments finally leaving US mills in July “could be a problem” and complicate the market even more, the source said.