Although spot prices within the US domestic rebar market have not changed in the last week, sources say they are bracing for a near-term price increase, likely once the scrap market settles for May. Already, mills have issued increases for size 3 rebar due to supply shortages, but other products are expected to trend upward as well.
For now, US domestic rebar prices are still in the range of $42.00-$44.00 ($926-$970/mt or $840-$880/nt) ex-mill in the Midwest, and $41.00-$42.00 cwt. ($904-$926/mt or $820-$840/nt) ex-mill on the East coast. However, sources say offers on the lower end of the ranges are becoming less available.