While many traders are wary of booking import rebar orders from Turkey and Mexico, some are continuing to offer despite the shadow of anti-dumping and countervailing duties hanging over the disputed sources. Offer prices from Turkey can still be found in the range of $29.00-$30.00 cwt. ($639-$661/mt or $580-$600/nt) DDP loaded truck in US Gulf ports and Mexican offers are available at $29.50-$30.50 cwt. ($650-$672/mt or $590-$610/nt) DDP loaded truck delivered to US border states, although only from certain traders. Other traders are putting more effort behind offers from Japan, which are up $1.00 cwt. ($22/mt or $20/nt) this week at $31.00-$32.00 cwt. ($683-$705/mt or $620-$640/nt) DDP loaded truck in US Gulf ports; and Korea, unchanged this week at $32.00-$33.00 cwt. ($705-$727/mt or $640-$660/nt) DDP loaded truck in West Coast ports.
As for the US domestic rebar market, sources say mills are unconcerned with the new import sources cropping up, and most believe offers from Turkey and Mexico will soon evaporate. With such confidence in the competitive landscape, many believe it is inevitable that US mills will raise prices in the near-term--if not officially, then just through extreme rigidity in the spot market. Until then, US domestic rebar spot prices are still in the range of $31.50-$32.50 cwt. ($705-$717/mt or $630-$650/nt) ex-mill.