With import rebar offers starting to soften again, US domestic rebar mills have regained justification for rescinding their March price increase a few weeks ago. As such, sources tell SteelOrbis that US rebar spot prices are “flexible” depending on the order size and customer, although there is “little chance” mills will officially drop prices further.
However, that doesn’t mean spot prices are expected to remain static. While the average spot price range for US domestic rebar remains at $31.25-$32.75 cwt. ($625-$655/nt or $689-$722/mt) ex-mill, expanded dealmaking could drag the range downward while prices remain “officially” stable. Still, soft US rebar prices are not expected to last—as soon as final antidumping margins are announced in the trade case against rebar from Turkey, Japan and Taiwan are released (the US DOC is scheduled to announce final margins for Turkey and Japan on May 16 and Taiwan on July 6), sources say US domestic rebar prices will likely have leverage to rise.
Preliminary AD margins for Turkey range from 5.29-7.07 percent; margins for Japan are 209.46 percent; and margins for Taiwan range from 3.48-29.47 percent.