US rebar market expects prices to rise

The rebar market in the United States anticipates an increase in prices in December. Currently, the rebar price remains stable, but some industry participants predict that it will rise due to a shortage in supply and higher material costs during the winter season.

Several specific mills, including Nucor Corporation, Commercial Metals Company (CMC), Steel Dynamics, Inc., and Gerdau Long Steel North America, have already announced their plans to raise rebar prices in April of this year. Notably, CMC completed a merger involving four rebar mills and 33 processing mills. This strategic move aims to gradually expand their presence in the wire rod market and reduce transportation expenses.

According to a report by the United States Department of Commerce (USDOC), rebar imports into the United States totaled approximately 22,900 tons in October, reflecting an 11.2% decrease compared to the previous month. Italy and Mexico were the primary sources of rebar during that period, accounting for around 26,100 tons and 10,700 tons, respectively.