While some rebar import offers from Turkey to the US have been heard at slightly below the current range of $28.50-$29.50 cwt. ($570-$590/nt or $628-$650/mt) DDP loaded truck in US Gulf ports, they are not yet widespread enough to represent an overall shift in prices. However, sources tell SteelOrbis that the trend for Turkish rebar is still decidedly down, and it will not come as a surprise if Turkish mills continue to chip away at the range.
Sources in the US domestic rebar market confirm that decent demand levels have prevented the import trend from putting too much pressure on spot prices, which are still firm in the range of $34.25-$35.25 cwt. ($685-$705/nt or $755-$777/mt) ex-mill. Without much expectation of a significant demand bump in early fall, rebar buyers in the US are not too inclined to place large-tonnage orders normally required for imports, and are instead sticking with US mills for the time being.