US domestic rebar prices are unchanged again week-on-week, but sources say buyers might try to push for deals if US scrap prices decline next month as predicted. Although the drop in scrap prices is not expected to be large, the sideways-to-down trend in scrap so far this year could translate to leverage on the rebar buyer side.
For now, with steady demand and negligible competition from imports, US domestic rebar spot prices in the Midwest are still at $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt) ex-mill in the Midwest, with East coast offers still ranging from $42.00-$43.00 cwt. ($926-$948/mt or $840-$860/nt) ex-mill.