Despite the strong uptrend in US domestic rebar prices, import rebar offers in the US could soon reverse trend and sink a little, sources say, if the global scrap trend does not recover. Even with the 25 percent tariff in place on US steel imports from most countries, rebar import offers are hovering close to current US domestic spot prices. And if lower raw materials costs drag import offers down even slightly, sources say the trend will “crack open the order books” as customers scramble to take advantage of deals.
For now, current offers for imported rebar in the US domestic market from Italy are around $38.00-$39.00 cwt. ($760-$780/nt or $838-$860/mt) DDP loaded truck at US Gulf Ports, with Mexican offers within $1.00 cwt. ($20/nt or $22/mt) higher. Trader sources are still reportedly “working out” price points with Turkish mills, although early indications still point to the higher end of the Italian price range.