Despite the return to “business as usual” in the US rebar market, traders report slack inquiry activity for future import orders even though overall demand for rebar is strong. Part of the reason behind the disinterest is the anticipation of ample position availability in the next couple months, but another reason is that Turkish mills are trying to push rebar offers up along with rising scrap prices. US-based traders have not entirely accepted higher price points, leaving offer prices level this week in the range of $26.50-$27.50 cwt. ($530-$550/nt or $584-$606/mt) DDP loaded truck in US Gulf ports.
US domestic rebar mills are also looking to keep prices strong, and some sources speculate that unofficial price increases could be around the corner. For now, spot prices are still in the range of $34.00-$35.00 cwt. ($680-$700/nt or $750-$772/mt) ex-mill, but if scrap remains strong, the only factor that will determine how much mills will try to bump up prices will be the extent of the yearly import flood this quarter.