With strong demand and enough capacity to fulfill their needs, US domestic rebar mills are expected to keep prices steady amid a soft-sideways trend in the scrap market this month. While some deals might be available to larger buyers, spot prices are expected to remain steady overall in the near-term.
As such, US domestic rebar spot prices are still trending at around $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.