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Kallanish Kallanish

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December, 11th 2019

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NOV 20
17:31

US rebar to remain stuck in holding pattern

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The troubled US rebar market is displaying few signs of a near-term turnaround, Kallanish hears from market sources.

“Everyone is excited about upward pressure in scrap, yet demand is lacklustre,” says one buy-side source. “I don’t see any upward pressure having legs, and, unfortunately, softness in the marketplace for the next 60-90 days. I expect pricing to come back down, and any large volumes to be considered for a price concession.”

Kallanish currently puts #4 rebar in 20-foot sticks at $590-610/short ton. All prices are ex-works, domestic mill.

The buyer does note that rebar import offer prices are rising, but “...there’s no traction at all.”