Demand within the US rebar market continues to trend steady, and sources tell SteelOrbis that domestic prices are expected to remain “mostly unchanged” in the near-term. Predictions of a shredded scrap downtrend this month could open up possibilities for deals “here and there,” but overall order activity is reportedly healthy enough for the general spot price range to remain intact.
US domestic rebar spot prices are therefore unchanged week-on-week at $29.50-$30.50 cwt. ($650-$672/mt or $590-$610/nt) ex-mill in the Midwest and $29.00-$30.00 cwt. ($639-$661/mt or $580-$600/nt) ex-mill on the East coast.
As for US import rebar, demand is not as robust as the domestic market—although sentiment is generally more positive than with other steel product segments, uncertainty still “looms large” in buyers’ minds, and few are eager to place significant-sized orders that will arrive in “still uncertain future.”
Offer prices for US import rebar are also steady from last week, at $28.00-$29.00 cwt. ($617-$639/mt or $560-$580/nt) DDP loaded truck at US Gulf ports from Turkey, while offers from Mexico are still at $28.50-$29.50 cwt. ($628-$650/mt or $570-$590/nt) DDP Houston.