As the US steel market as a whole continues to anticipate the results of the ongoing Section 232 investigation, traders tell SteelOrbis that with supplies dwindling, they can no longer wait, and so they are putting out “feelers” to overseas rebar producers to assess whether quoted prices “make sense” considering US buyers will be responsible for any tariffs announced after their orders are booked.
Sources say that on the CFR level, quote prices have increased slightly in the last week, but on the US sales side, traders are reluctant to set a firm price level in the absence of solid orders. The last heard “solid” offers for imported rebar in the US domestic market from Turkey were $25.00-$26.00 cwt. ($490-$510/nt or $540-$562/mt) DDP loaded truck in US Gulf ports, but that range could shift if actual orders are placed.