While the recent ruling in the rebar import trade case dissolved much of the US domestic rebar market’s price increase momentum, there doesn’t seem to be any indication that US mills are planning to decrease prices in order to compete with the much-lower Turkish offers still available. In fact, sources tell SteelOrbis that rebar availability in the domestic market is actually tightening--distributors have reported difficulties in getting their usual supply needs met by US mills. While lowered availability might seem counterintuitive at a time when mills are in such steep competition with import sources, the reality is that the strategy will keep domestic prices level; current spot prices are still ranging at $35.25-$36.25 cwt. ($705-$725/nt or $777-$799/mt) ex-mill.
Meanwhile, Turkish rebar offers to the US are also stable at $28.75-$29.75 cwt. ($575-$595/nt or $634-$656/mt) DDP loaded truck in US Gulf ports, although inquiries are reportedly quiet for the time being. Traders tell SteelOrbis that many customers are being mindful of end-of-year inventories, but they expect order activity to pick up once the shipment time range shifts to Q1 arrivals.