Although US domestic rebar prices have in general remained stable week-on-week, sources say there are hints of softening at the upper end of the range. Lower seasonal demand isn’t as much of a factor, sources say, but US domestic scrap prices are starting to settle in a sideways direction for December, which will reportedly give buyers a bit more leverage in negotiations.
For now, US domestic rebar spot price are stable in the range of $35.00-$39.00 cwt. ($700-$780/nt or $772-$860/mt) ex-mill, but sources say few if any deals are happening at the upper end of the range. By next week, those higher prices could erode for most customers, which sources say could either inspire US mills to push through with the rumored price increase this month, or hold off until they are sure a price increase would go all the way through.