US rebar prices start to drift downward

Wednesday, 16 January 2019 00:43:22 (GMT+3)   |   San Diego

Although US domestic rebar mills have not yet released a price decrease announcement as many predicted last week, sources tell SteelOrbis that rebar spot prices are nevertheless drifting downward. Due to market uncertainty and a $30/ton drop in shredded scrap prices this month, buyers have been in an advantageous position, causing the high end of the general spot price range to dip by $0.50 cwt. ($10/nt or $11/mt) in the last week.

US domestic rebar spot prices are now in the range of $35.00-$38.00 cwt. ($700-$760/nt or $772-$838/mt) ex-mill. Sources say they believe spot prices could drift further down in the near term, with or without a formal announcement from mills.

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