Although US-based traders report slightly lower quotations coming in for Turkish rebar, buyers in the US are largely uninterested in taking advantage of the trend. Demand for rebar is slow in the final weeks of the annual summer slowdown, and after the Labor Day holiday in early September, sources say buyers will “get back to work and back to stocking up,” looking ahead to Q4 needs instead of only filling immediate inventory holes.
As such, sources say that interest in future offers of import rebar should increase soon, but until then offer prices are languishing in the range of $20.00-$21.00 cwt. ($400-$420/nt or $441-$463/mt) DDP loaded truck in US Gulf ports. As for positions, the steady stream of imports coming in all summer is starting to dry up, with only 15,050 mt of import permits coming from Turkey between Aug. 16 and Aug. 23, according to the latest US import data.