A formal announcement on the proposed Section 232 tariffs was expected this week, but news reports now indicate that the announcement will be delayed while the Trump administration considers feedback from legislators and trade associations. However, Trump has said repeatedly that he will not “back down” from the tariffs, leaving the entire US steel import market in limbo.
No new offers for import rebar are currently available, and the last heard offers for imported rebar in the US domestic market from Turkey were around $31.00 cwt. ($620/nt or $683/mt) DDP loaded truck in US Gulf ports. Adding a 25 percent tariff would bring offers up to $38.75 cwt. ($775/nt or $854/mt), which is higher than current US domestic spot prices.