US rebar prices are strong, or will be under pressure in early 2019

It was learned that US rebar prices have been stable forseveral months and continue to remain at $710-720/short ton. According toindustry insiders, the base price of No. 4 rebar is USD 710/short ton, that ofNo. 5 rebar is USD 690/short ton, and that of No. 6 rebar is USD 685/short ton.Although the market is oversupply at the end of the year, the base price islikely to rise in the coming months.

A market player in the Midwest said: "The scrap pricehas declined, but according to the current situation, I think domestic millsare planning to raise prices in the first quarter of next year. The businesshas been poor since August. But even in other markets around the world andImport prices have weakened and US steel mills will still try to raise pricesin early 2019."

Other potential factors affecting the market in early 2019included the removal of tariffs on Canadian and Mexican steel, the reduction oftariffs on Turkish steel, and the continued decline in scrap prices.