The price of US domestic rebar will remain unchanged due to a lack of market activity, while import prices have dipped on the Section 232 tariffs on steel imports from Canada, Mexico, and the EU, which have effectively priced foreign products out of domestic markets.
American Metal Market's price for US domestic rebar remained at $35-36 per hundredweight ($700-720 per ton), according to the latest assessment on July 5. But that price is up from $26-27 per hundredweight ($520-540 per ton) one year ago. Domestics: Few lingering issues, but stable overallThough altogether stable, supply and size tightness is an underlying issue for some market participants. "Supply is extremely tight on the West Coast" in addition to the Midwest and Texas, according to a Midwestern buyer. It's a little better in the Northeast, he noted, primarily due to the reduction of exports to Canada after that country retaliated against the Section 232 tariffs. As far as specific sizes go, a second buyer based in the Midwest commented that No. 3 and 20-ft bars are a little tight. This claim was buttressed by comments from a trader source, who confirmed lingering issues with those particular grades. "Except for...