US rebar prices stable, for now

Wednesday, 17 July 2019 23:47:54 (GMT+3)   |   San Diego

The consensus among sources in the US domestic rebar market is that prices have hit bottom and will not likely drop any further. However, expectations are mixed for the near-term price trend, with some predicting stability and others viewing a possible uptrend on the horizon.

US domestic scrap prices could rise next month, and if they do, sources say US rebar mills will have some leverage to push for higher prices. Additionally, if rumors of a US rebar price uptrend solidify into a strong expectation, buyers could rush to the market to book orders, which would in turn support higher prices with increased demand.

For now, US domestic rebar spot prices are stable in the range of $33.00-$34.00 cwt. ($660-$680/nt or $728-$750/mt) ex-mill in the Midwest and $33.50-$34.50 cwt. ($670-$690/nt or $739-$761/mt) ex-mill on the East Coast.

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