Upward trend in US import rebar offers takes a temporary pause

Tuesday, 14 March 2017 00:57:26 (GMT+3)   |   San Diego
       

Although import rebar offers to the US from Turkey seemed to be on a strong upward trajectory last week, Turkish demand for scrap has softened a bit this week, with mills reportedly pushing for lower prices. As such, Turkish mills have not been as aggressive with import rebar offers to the US so far this week, and US-based traders have reacted by keeping their sales prices level while they wait for a clear market direction.
 
However, some sources tell SteelOrbis that offer prices from Turkey are expected to rise again by the end of the week, so the current sales price offer in the US might not last. Currently, imported rebar in the US domestic market from Turkey is still in the range of $25.00-$26.00 cwt. ($500-$520/nt or $551-$573/mt) DDP loaded truck in US Gulf ports.
 
Further, sources report indications in the market that the final margins in the ongoing trade case against Turkish rebar (along with Taiwan and Japan) could exceed preliminary margins by “a percentage or two.” While the information is currently considered a rumor, the result of the rumor gaining steam could be higher “pre-emptive” offers from Turkey ahead of the US DOC’s final determination in May.

Similar articles

Domestic rebar prices in Taiwan - week 13, 2024

29 Mar | Longs and Billet

Import longs offers in Romania now attractive, local prices stable

28 Mar | Longs and Billet

Turkish domestic dollar-based rebar spot prices soften

28 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

Rebar consumption in Mexico decreases 3.1 percent in January

27 Mar | Steel News

US rebar prices mostly stable with occasional deals

27 Mar | Longs and Billet

Downtrend reverses in Pakistan’s import scrap segment

27 Mar | Scrap & Raw Materials

Turkey seeks to raise rebar export offers, demand mostly seen locally

27 Mar | Longs and Billet

Iskenderun-based Turkish mill increases its rebar price      

27 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet