While some sources tell SteelOrbis that US domestic rebar mills are trying to firm transactions toward the top end of the general spot price range, others expect rebar prices to remain steady in the near term. After US domestic scrap prices trended sideways this month instead of rising again, rebar mills have lost what sources call “an excuse” to raise prices further beyond already-historic levels.
Most in the market do not expect rebar prices to start declining, barring some major steel market or economic event, so current average spot price ranges are expected to hold. For now, US domestic rebar spot prices in the Midwest are still at $60.50-$61.50 cwt. ($1,334-$1,356/mt or $1,210-$1,230/nt) ex-mill, while spot prices on the East coast are still at $59.50-$60.50 cwt. ($1,312-$1,334/mt or $1,190-$1,210/nt) ex-mill.