Although some in the US domestic rebar market expect scrap prices to rise on a seasonal basis this winter, many believe higher scrap prices and competitive import offers will balance each other out and leave US rebar prices stable. Current rebar spot prices are at all-time highs and producers are reporting record profit levels, which has led some buyers to speculate that mills could go higher if they wanted, “but it’s not necessary.”
As such, US domestic rebar spot prices are unchanged week-on-week in the range of $51.00-$53.00 cwt. ($1,124-$1,168/mt or $1,020-$1,060/nt) ex-mill in the Midwest, and $50.00-$52.00 cwt. ($1,102-$1,146/mt or $1,000-$1,040/nt) on the East coast.