Although US domestic rebar mills have not announced a formal price increase, sources tell SteelOrbis the rebar price trend is still pointing upward, with fewer spot deals available and an apparent “appetite” for mills to firm up offers, especially after scrap prices increased this month.
Sources say any formal increase amount would be absorbed easily into the market, but some are pointing to the uneven absorption of the recent wire rod increase announced earlier this month as a reason why mills might be hesitating with a rebar announcement.
For now, US domestic rebar spot prices are still within the range of $41.00-$42.00 cwt. ($904-$926/mt or $820-$840/nt) ex-mill in the Midwest, and $40.50-$41.50 cwt. ($893-$915/mt or $810-$830/nt) ex-mill on the East coast, although sources report fewer transactions on the lower end of the ranges.