Although import rebar offers to the US from Turkey increased soon after final margins were issued in the AD/CVD case against Turkey and Japan, slow ordering activity has resulted in a neutral price trend this week. Imported rebar in the US domestic market from Turkey is still available for about $24.50-$25.50 cwt. ($490-$510/nt or $540-$562/mt) DDP loaded truck in US Gulf ports—unchanged in the last week.
However, after Donald Trump announced he will take “major action if necessary” after the results of the Section 232 investigation into steel imports concludes next month, many US-based traders are more worried than ever that substantial tariffs could be applied to many steel products, including rebar. Additionally, Turkish mills are reportedly adding a caveat to current offers to the US: buyers must take responsibility for any Section 232 result. The possibility of having to follow through with an order after large tariffs are implemented has left many traders opting to “wait it out” until the conclusion of the investigation.