Although some deals below average spot price levels are still being heard in the US domestic rebar market, most transactions are coming in at last week’s levels. Sources say the neutral trend is likely to continue unless “something big” happens in the US scrap market, as demand is steady and supply levels are manageable.
As such, US domestic rebar spot prices are still at $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt) ex-mill in the Midwest, with East coast offers still ranging from $42.00-$43.00 cwt. ($926-$948/mt or $840-$860/nt) ex-mill.