Although traders tell SteelOrbis that Turkish rebar offer prices are relatively stable this week, sources agree that the trend is temporary while the market awaits results of the Section 232 Investigation. According to recent comments by US Secretary of Commerce Wilbur Ross, his report on the impact of steel imports on national security could be released as early as this week, although recent reports of pushback from other US departments, including Defense and the Treasury, about the scope of the products included in the investigation, could delay any announcement until later this month.
Until then, traders report lackluster order activity, with many buyers hesitant about booking when orders in transit could be subject to Section 232 tariffs. Imported rebar in the US domestic market from Turkey is still available for about $25.00-$26.00 cwt. ($490-$510/nt or $540-$562/mt) DDP loaded truck in US Gulf ports—unchanged in the last week—although sources say buyers are unwilling to consider anything priced higher than the low end of the range.