The US domestic rebar market is bracing for another scrap downtrend in May, and sources say the likelihood of US rebar mills announcing an official price decrease is “not zero.” However, most expect rebar spot ranges to start drifting downward, unofficially, in the coming weeks, and depending on how steep the shredded scrap price decrease ends up, buyers might be in a great position to push for lower rebar prices and stock up before an expected busy construction season this year.
For now, US domestic rebar spot prices are holding on to current levels, but most sources don’t expect that to last much longer. Until then, spot prices for US rebar are still at $47.50-$48.50 cwt. ($1,047-$1,069/mt or $950-$970/nt) ex-mill in the Midwest and East coast.