As US-based traders return to the import rebar market following the indefinite delay of the Section 232 investigation, sources say the market is back to “business as usual,” with slightly higher offer prices this week and increased inquiry activity.
Last week, SteelOrbis reported offers for imported rebar in the US domestic market from Turkey in the range of $27.00-$28.00 cwt. ($540-$560/nt or $595-$617/mt) DDP loaded truck in US Gulf ports. This week, prices have ticked up slightly by about $0.25 cwt. ($5/nt or $5.50/mt), into the range of $27.25-$28.25 cwt. ($545-$565/nt or $601-$623/mt) DDP loaded truck in US Gulf ports.
As for current import rebar arrivals into US ports, Turkey has still posted no import permits for this month, while total import permits for August (as of Aug. 15) have only reached 16,314 mt. Portugal is responsible for most of this month’s tonnage, with 12,938 mt in import permits, and sources say the country could be trying to transform into a “solid” source of US rebar imports going forward.