Although demand is strong enough for US domestic rebar mills to keep spot prices steady, the $50/mt drop in shredded scrap prices this month has reportedly given larger rebar buyers some leverage to negotiate deals. Such deals, coming in around $1.00-$2.00 cwt. ($22-$44/mt or $20-$40/nt) below average spot ranges, are not expected to become widespread, especially if scrap prices trend sideways next month as early predictions suggest.
Additionally, sources say the lack of serious import competition in the US rebar market will help domestic prices stay firm. For now, most 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 in the Midwest, and $42.00-$43.00 cwt. ($926-$948/mt or $840-$860/nt) ex-mill on the East coast.