After reports of deals in the US domestic rebar market last week, sources tell SteelOrbis that offers have leveled out, although major buyers might still be able to book orders at slightly lower prices. Demand is reportedly steady, and with shredded scrap trending sideways again this month, sources say mills are trying to keep overall spot prices firm.
As such, US domestic rebar spot prices are steady this week at $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt) ex-mill in the Midwest, with East coast offers also unchanged week-on-week at $42.00-$43.00 cwt. ($926-$948/mt or $840-$860/nt) ex-mill.