Although US import rebar offers continue to decline week-over-week, sources say buying activity still hasn’t picked up as expected. Some sources say buyers are waiting for offers to drop even lower before making an offshore commitment, while others point to the pervasive “foreign fighter” deals offered by US rebar mills.
This week, US import offers from Algeria are trending at $40.00-$41.00 cwt. ($882-$904/mt or $800-$820/nt) DDP loaded truck in US Gulf ports, down $1.00 cwt. ($22/mt or $20/nt) week-on-week, with some sources saying they’ve heard offers as low as $39.00 cwt. ($860/mt or $780/nt). Offers from Egypt have been heard roughly around the Algerian range, while rebar offers from Mexico are also down week-on-week, to $44.00-$45.00 cwt. ($970-$992/mt or $880-$900/nt) DDP Houston, also a $1.00 cwt. weekly decline.