While demand for rebar in the US is showing signs of improvement and US domestic mills have warned of tight supply in the coming months, it might not be enough to keep rebar prices firm through the spring. According to some sources, arriving imports are still concerning to US mills, and although the general spot price range for US domestic rebar is still between $36.75-$37.75 cwt. ($810-$832/mt or $735-$755/nt) ex-mill, discounts are still quietly cropping up in the market as rebar buyers take advantage of import positions available at the port. As of March 27, 160,506 mt of rebar has arrived in the US this month, according to US import license data, far surpassing February's total of 93,452 mt (preliminary census data) and even January's total of 124,313 mt (census data)--and distributors in the US are still anticipating more shipments arriving (previously purchased and positions) in the next month or so.
New import order activity, on the other hand, is tepid at best, as traders report little to no interest in tonnage that wouldn't arrive until early summer. Offer prices from Turkey are still in the range of $34.00-$35.00 cwt. ($750-$772/mt or $680-$700/nt) DDP loaded truck in US Gulf ports, although sources tell SteelOrbis that Turkish mills have been in a negotiable mood lately and could settle for offers slightly below. Meanwhile, Mexican mills haven't changed their offer prices in the range of $33.00-$34.00 cwt. ($728-$750/mt or $660-$680/nt) DDP loaded truck delivered to US border states, and will not likely make any major moves unless the US domestic market moves as well.