Rebar prices slide bottom is near
Import offers have continued trending downward since last week. The prices for September arrivals are offered under $20.00 cwt. duty paid, loaded truck in Houston ($440.92/mt) from legitimate traders which represents another price decrease of approximately $10.00/short tons ($11.01/mt).
Traders indicate that there are signs of bottoming out in certain regions, namely the Black Sea countries such as
Turkey and
Bulgaria where the
scrap and
billet prices are now heading back upward.
On the domestic side, there were no new price announcements and the
US steel producers are deciding whether to match import pricing on a case-by-case basis.