Sources tell SteelOrbis that price increase opportunities for US domestic rebar mills are “close to zero” as scrap price predictions remain measured and import rebar offers continue to point upward. Sources also say US rebar mills have plenty of availability at the moment, leaving buyers in a good position to keep prices neutral.
The short-term outlook for US rebar prices continues to land on stability, and as such, current spot ranges are expected to sustain at current levels. US domestic rebar spot prices are still trending at $43.50-$44.50 cwt. ($959-$981/nt or $870-$890/nt) ex-mill this week in the Midwest, while East coast spot prices are still at $43.00-$44.00 cwt. ($948-$970/mt or $860-$880/nt) ex-mill.