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　　Lower rebar prices in the US Midwest have emerged as buying has slowed during the seasonal summer slump, market participants said Monday.

　　"Things have been so quiet I think people are desperate for business," one Midwest distributor said.

　　Lower scrap prices in July have weighed on the rebar market approaching month-end, and speculation that obsolete grades of scrap could have the potential to dip again in August has mills offering more aggressive discounts to secure orders, he said. Prices for obsolete grades of scrap fell by a minimum of $10/lt, and as much as $25-$30/lt in some cases during the July buy week.

　　S&P Global Platts on Monday lowered its weekly US Midwest rebar assessment to $535-$550/st ex-works, down from $550-$565/st ex-works.

　　Most mills seem to be holding the line at $535-$545/st, but if bookings fall off in August, prices may head lower, a second Midwest distributor said.

　　Grade 40 and 60 rebar remains readily available in the region, but the market has tightened on less-common items as some mills have adjusted production a bit during the typical summer slowdown, sources said.

　　"This time of year the mills tend to scale back a little bit, but they're still cranking tons out," the first distributor said.