US import rebar prices stable, but not for long

Tuesday, 12 July 2016 23:54:07 (GMT+3)   |   San Diego
       

As both the US and Turkish rebar markets return from last week’s holidays, sources tell SteelOrbis that inquiry activity is slower than expected, but once serious offers are requested, the price trend will most likely point further downward. Offer prices for Turkish rebar have been stuck in neutral for about a month in the range of $20.50-$22.50 cwt. ($410-$450/nt or $452-$496/mt) DDP loaded truck in US Gulf ports, but gradual downticks are expected in the near term.

Adding to the price pressure, import position availability at the ports is on pace to reach a new high level for 2016. After US rebar import permits from Turkey reached 124,835 mt in June, July’s total—as of the first week of the month—has already reached 76,218 mt. And with most of those position tags coming in at much higher levels than current future offers, it appears the annual Q1 import flood might have a Q3 sequel.

Similar articles

Asian rebar market seeks new low

29 Mar | Longs and Billet

Taiwan’s import scrap market recovers slightly

29 Mar | Scrap & Raw Materials

Stoppages and slowdowns in southern European longs production

29 Mar | Longs and Billet

Iskenderun-based Turkish mill revises its rebar price

29 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 29, 2024

29 Mar | Longs and Billet

Domestic rebar prices in Taiwan - week 13, 2024

29 Mar | Longs and Billet

Import longs offers in Romania now attractive, local prices stable

28 Mar | Longs and Billet

Turkish domestic dollar-based rebar spot prices soften

28 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

Rebar consumption in Mexico decreases 3.1 percent in January

27 Mar | Steel News