Steady demand and predictions of a sideways to slight uptrend in US scrap prices next month have left US domestic rebar mills in a strong position to hold onto price levels. However, sources report some discounting to certain customers, as US mills are largely competing amongst themselves in the absence of serious import competition. Still, sources say most spot prices should remain in current ranges for the near-term, unless something happens to shake-up the scrap market in the next couple weeks.
For now, US domestic rebar spot prices are steady 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.