After the $2.00 cwt. ($44/mt or $40/nt) US domestic rebar price increase announced earlier this month absorbed into the market, prices have remained firm with few deals available, sources tell SteelOrbis. US domestic rebar spot prices in the Midwest are still at $31.50-$32.50 cwt. ($694-$717/mt or $630-$650/nt) ex-mill, while prices on the East coast are still ranging from $31.00-$32.00 cwt. ($683-$705/mt or $620-$640/nt) ex-mill.
With early expectations for another slight uptrend in US domestic scrap prices in October, some sources are speculating that US rebar mills might announce another price increase. However, others contend that the recent increase was “probably the last bump of 2020.”