US Rebar Prices Show No Signs of Change
- 27-Mar-2023 12:55 PM
- Journalist: Xiang Hong
US: Domestic steel demand has been on the rise as construction season gets underway and infrastructure investment from recently passed legislation makes its way to consumers. Rebar ex-works Midwest was priced at $950-970/st while import rebar ddp Houston was priced at $920/st. With little competition from imports, US mills are expected to push for further price increases soon.
Domestic steelmakers have been warned that any significant increases in their rebar prices could lead to a shift in market appetite towards imported tonnages due to the downward movement in import prices. Early discussions on domestic scrap prices have predicted that there will be no major change, which could potentially lead to further increases on rebar prices being discounted.
Domestic long product prices continue to be undercut by imports as market participants are wary of a potential further erosion in global long product prices. US imports have been stagnant with bookings heard to be arriving in early summer and Turkish materials remain priced out of the US market due to the recent earthquake. Meanwhile, Mexican rebar continues to be more expensive than US-produced material.
Prices for imported spot material in Houston were said to range from $850 to $930 per short ton.
