Little has changed within the Canadian domestic rebar market since provisional safeguards were implemented on imports in late October, as end-use demand has slowed during the early winter season. The only import news of note is the recent signing of the US-Mexico-Canada trade agreement, which must still be ratified in each country’s legislature. The deal did not include exclusions to the US Section 232 tariffs, which has significantly cut into Canadian rebar import levels, and sources in both Canada and the US hope that the respective legislatures will demand some sort of resolution to the tariff situation before approving the deal.
Without rebar imports from the US supplying the Canadian market, Canadian domestic rebar prices are expected to remain high. Any changes, due to imports from other countries or seasonal demand, are not expected to take place until at least the first quarter of 2019. For now, prices are stable month-on-month. West coast prices are still in the range of CAD 1,000-1,100/mt ex-mill. On the East coast, domestic rebar prices are in the range of CAD 890-930/mt ex-mill. And in the central, or Prairie regions, prices are in the range of CAD 950-1,000/mt ex-mill.