Early last week, SteelOrbis reported that import rebar offers to the US from Turkey were expected to drop, and by the end of the week, traders reported lower offer prices from Turkish mills based on soft international rebar prices, including within the US domestic rebar market.
So far, US-based traders have been reportedly cautious about lowering their sales prices too much, as demand is still steady. But with more import rebar price declines expected, trader offers are predicted to fall as well. This week, imported rebar in the US domestic market from Turkey is in the range of $23.50-$24.50 cwt. ($470-$490/nt or $518-$540/mt) DDP loaded truck in US Gulf ports, reflecting a difference of $0.50 cwt. ($10/nt or $11/mt) since prices reported last week.