In light of early predictions of another sideways price trend for US scrap next month, sources tell SteelOrbis that US domestic rebar mills have been holding firm to current price ranges, and previously reported dealmaking is drying up.
Some sources predict that mills might take advantage of the stability by gradually pushing most spot prices toward the upper end of the price range, but for now US domestic rebar spot prices are unchanged week-on-week at $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt) ex-mill, and prices on the East coast are still at $42.00-$43.00 cwt. ($926-$948/mt or $840-$860/nt) ex-mill.