The stable trend for US domestic rebar prices continues this week, as predictions for the US scrap market in May continue to point to a “likely sideways” trend. Sources tell SteelOrbis that “there is no reason for [rebar] prices to go up, and no reason for prices to go down,” and barring some unexpected event that changes the calculus, sources say US rebar should continue its “strong and steady” trend.
As such, 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.