Despite some warnings of rebar price vulnerability after US shredded scrap prices declined by $50/mt this month, sources tell SteelOrbis that US domestic rebar prices are holding on to current ranges, thanks to strong demand. US rebar mills are reportedly busy enough to stave off most attempts at discounting due to lower scrap prices, and while some preferred customers might be getting deals, last week’s average spot price ranges are unchanged.
As such, US domestic rebar prices are still around $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt) ex-mill in the Midwest, and $42.00-$43.00 cwt. ($926-$948/mt or $840-$860/nt) ex-mill on the East coast.