With only a few weeks left before the end-of-year holiday period, sources tell SteelOrbis that rebar buyers in the US are starting to realize it might be a good time to place import orders, especially as it seems that offers might have hit their floor.
Sources say that while some international rebar prices are starting to rise slowly, the trend for import rebar offers in the US is neutral this week after a long-term gradual decline. Some are speculating that this time, the price pause means they won’t drop any further, but others aren’t as confident that the price floor has been reached.
By next week, the trend for US import rebar will be clearer, but until then, offers are unchanged week-on-week. Import rebar from Algeria are still trending at $39.50-$40.50 cwt. ($871-$893/mt or $790-$810/nt) DDP loaded truck in US Gulf ports, while offers from Turkey are still at $40.50-$41.50 cwt. ($893-$915/mt or $810-$830/nt) DDP loaded truck in US Gulf ports. Meanwhile offers from Mexico are also unchanged at $42.50-$43.50 cwt. ($$937-$959/mt or $$850-$870/nt) DDP Houston.