Although demand and buying activity are seasonally muted within the US domestic rebar market, sources say quotes are nevertheless showing more absorption of the price increase announcement from last week. Rebar spot prices are up around $1.00 cwt. ($22/mt or $20/nt) week-on-week, and sources tell SteelOrbis that they wouldn’t be surprised if mills announced another price increase in January.
Until then, US domestic rebar spot prices in the Midwest are now trending at $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt) ex-mill, while spot prices on the East coast are now at $42.00-$43.00 cwt. ($926-$948/mt or $840-$860/nt) ex-mill.