Although demand for US import rebar has not picked up in the last week, sources tell SteelOrbis that importers are trying to reduce inventory of already-arrived material at some US ports, particularly Houston. Position prices are reportedly as low as $28.00-$29.00 cwt. ($617-$639/mt or $560-$580/nt) DDP loaded truck at the Texas port, while offers for future arrivals are also reportedly vulnerable to deals.
US import rebar offers from Spain, Bulgaria, and Portugal are now ranging from $29.00-$30.00 cwt. ($639-$661/mt or $580-$600/nt) DDP loaded truck at US Gulf ports, reflecting a drop of $0.50 cwt. ($11/mt or $10/nt) on the low end in the last week. Offers from Algeria also softened by $0.50 cwt., to around $29.00 cwt. ($639/mt or $580/nt) DDP loaded truck at US Gulf ports. Meanwhile, Mexican offers have reportedly stalled after the US Department of Commerce initiated a circumvention inquiry into US rebar imports from Mexico. Previously, Mexican rebar offers to the US were reported at $29.50 cwt. ($650/mt or $590/nt) DDP loaded truck in Houston.