Although buying activity within the US domestic rebar market has somewhat muted ahead of the Fourth of July holiday next week, sources tell SteelOrbis that spot prices are still softening somewhat, with further downticks expected.
This week, US domestic rebar spot prices are down around $0.50 cwt. ($11/mt or $10/nt), bringing Midwest spot prices into the range of $43.50-$44.50 cwt. ($959-$981/mt or $870-$890/nt) ex-mill and offers on the East coast are down to $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt) ex-mill.