In general, US traders have rejected the attempt by Turkish rebar mills to push up prices, and while sources tell SteelOrbis that prices are still officially “firm”, there have been reports of some Turkish mills being “flexible” with their offer range due to an eagerness to fill order books. It remains to be seen at this time whether such flexibility will extend to the point of an overall price range decrease, so for now offers for Turkish rebar are still in the range of $18.00-$19.00 cwt. ($360-$380/nt or $397-$419/mt) DDP loaded truck in US Gulf ports.
Meanwhile, prices in the US domestic market are still reportedly “all over the place,” with most transactions falling anywhere between $26.00 cwt. ($520/nt or $573/mt) ex-mill on the low end and $29.00 cwt. ($580/nt or $639/mt) ex-mill on the high end. However, sources say that if domestic scrap prices trend neutral in December according to early predictions, US rebar mills might be able to firm up the low end of the current spot range—especially if a December neutral scrap trend gives way to an increase in January due to seasonal supply shortages.