Although many sources tell SteelOrbis that US domestic rebar mills are still eager to push spot market prices higher, others say there is still too much “quiet” discounting in the market for that any sort of official increase to be successful. For now, most spot prices are still ranging from $31.50-$32.50 cwt. ($630-$650/nt or $694-$717/mt) ex-mill, while “outlier” deals of up to $3.00 cwt. ($60/nt or $66/mt) have been heard for certain large distributors. Other large distributors have reported transactions slightly below the aforementioned range, but sources are not convinced that the deals represent a trend.
As for imports, rising Turkish rebar offers on the CFR end have affected the sales prices trend in the US. Traders tell SteelOrbis that offers are $0.50 cwt. ($10/nt or $11/mt) higher this week, bringing offers into the range of $23.50-$24.50 cwt. ($470-$490/nt or $518-$541/mt) DDP loaded truck in US Gulf ports.