Have US import rebar offers hit bottom?

Tuesday, 12 July 2022 20:55:24 (GMT+3)   |   San Diego
       

After another period of downward drifting, US import rebar offers have stabilized in the last week, and some sources are wondering if offers have found their bottom. Two weeks ago, US import rebar offers from Algeria were trending at $50.50-$51.50 cwt. ($1,113-$1,135/mt or $1,010-$1,030/nt) DDP loaded truck in US Gulf ports, while offers from Mexico were at $53.00-$54.00 cwt. ($1,168-$1,191/mt or $1,060-$1,080/nt) DDP Houston.

About a week after that, offers from both countries softened by about $2.00 cwt. ($44/mt or $40/nt), but since then, offers have stabilized. Offers from Algeria are now at $48.50-$49.50 cwt. ($1,069-$1,091/mt or $970-$990/nt) DDP loaded truck in US Gulf ports, while offers from Mexico are now at $51.00-$52.00 cwt. ($1,124-$1,146/mt or $1,020-$1,040/nt) DDP Houston. However, despite the lower prices, sources report little interest in actually booking orders, because many are not certain that US domestic offers have stopped dropping.


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