US domestic rebar mills eager for orders are reportedly continuing to offer deals on an individual basis. Such deals are not widespread enough to drag down the overall spot price range—at least not yet, sources say, adding that while a price increase for US domestic scrap this month will not likely lead to a rebar uptrend, it could “keep rebar at status quo, plus or minus some deals.”
For now, the overall spot price range for US domestic rebar remains at $30.50-$31.50 cwt. ($610-$630/nt or $672-$694/mt) ex-Midwest mill and $31.50-$32.00 cwt. ($630-$640/nt or $694-$705/mt) ex-East coast mill. However, sources have reported that deals of up to $0.50 cwt. ($10/nt or $11/mt) below the low end of those ranges are “popping up” in the market.