After months trailing behind other countries in terms of US import rebar arrivals, the latest US import license data show Turkey again in the top spot with close to 50,000 mt in import permits for August. However, after the Trump administration doubled Section 232 tariffs on Turkish steel last month, it’s unclear how much of that tonnage arrived after Aug. 13, when the new 50 percent tariff went into effect.
Sources say a decent portion of the 49,702 mt in Turkish rebar arrivals for August came in ahead of Donald Trump’s surprise announcement, but the remainder could be “unsellable” due to prices that would now calculate into the “high 40s,” compared to the last-reported Turkish rebar offer level of approximately $39.00 cwt. ($860/mt or $780/nt) DDP loaded truck in US Gulf ports. Some sources say importers might try to unload at a loss, while one source suggested importers should hold onto the material “just in case Trump decides to punish other countries next.”
With future orders for Turkish rebar still “completely off the table,” Mexico, Italy and Spain remain popular sources for US import rebar. Mexican rebar offers to the US are still hovering around $40.00 cwt. ($881/mt or $800/nt) DDP Houston, while offers for US import rebar from Italy and Spain are still ranging between $41.00-$42.00 cwt. ($904-$926/mt or $820-$840/nt) DDP loaded truck at US Gulf ports.