Are market factors pointing toward US import rebar price stability?

Thursday, 05 March 2015 01:40:19 (GMT+3)   |   San Diego
       

With indications that scrap prices in Turkey are on the rise, traders tell SteelOrbis that Turkish rebar mills are trying to hold the line with rebar offers to the US. Attempts to negotiate downward have been mostly rebuffed for now, but sources say that such a firm stance won’t last because actual booking activity is slack. A glut of positions at the port isn’t helping matters either, as US import license data show 173,892 mt of rebar arriving from Turkey in February. The price difference between positions and future orders ranges anywhere from $1.50 cwt. to $3.00 cwt. ($30-$60/nt or $33-$66/mt), but with demand in the US lagging due to brutal winter weather throughout the country, sources say customers aren’t exactly clamoring for product at the moment—import or domestic. As such, future order offers are still in last week’s range of $22.00-$23.00 cwt. ($440-$460/nt or $485-$507/mt) DDP loaded truck in US Gulf ports.

Prices are also stable in the US domestic rebar market, with spots still hovering in the range of $31.50-$32.50 cwt. ($630-$650/nt or $694-$717/mt) ex-mill. As mentioned, a dip in otherwise strong demand for rebar in the US has removed much of US mills’ leverage, and sources say that until spring thaws end-use projects and the import flood dries up as it eventually does every year, domestic rebar prices will remain vulnerable.


Similar articles

Import longs offers in Romania now attractive, local prices stable

28 Mar | Longs and Billet

Turkish domestic dollar-based rebar spot prices soften

28 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

Rebar consumption in Mexico decreases 3.1 percent in January

27 Mar | Steel News

US rebar prices mostly stable with occasional deals

27 Mar | Longs and Billet

Downtrend reverses in Pakistan’s import scrap segment

27 Mar | Scrap & Raw Materials

Turkey seeks to raise rebar export offers, demand mostly seen locally

27 Mar | Longs and Billet

Iskenderun-based Turkish mill increases its rebar price      

27 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

US import rebar market remains quiet

26 Mar | Longs and Billet