Although import offer prices for Turkish rebar are still the lowest available, other foreign sources are trying to “get a piece of the action” with varying results, according to traders. Japan, which is responsible for almost 20,000 mt of rebar arriving in the US since the beginning of September (according to US import data as of October 7), is gradually increasing its market share in the US, but prices are roughly $30/mt more on the CFR level than Turkey, maintaining Turkey’s role as the US’ top source for imported rebar. And while sales prices in the US for Turkish rebar are still in the range of $28.75-$29.75 cwt. ($575-$595/nt or $634-$656/mt) DDP loaded truck in US Gulf ports, sources tell SteelOrbis that deals below are available for certain customers.
As for the US domestic rebar market, distributors report robust activity and demand levels, although some are waiting for import offers to drop a little more before booking. In the meantime, they are still placing orders with US mills in the spot price range of $35.25-$36.25 cwt. ($705-$725/nt or $777-$799/mt) ex-mill, and sources confirm that mills have no plans to adjust price levels in order to compete with imports.