Although there is currently ample availability of US import rebar positions at the ports, interest remains muted as rebar buyers continue to stick with domestic material. According to the latest steel import license data, August rebar import permits (as of Aug. 25) totaled just over 60,000 mt, on top of the preliminary census data totals of 113,566 mt in July.
Some sources say the available import material “isn’t cheap enough” to buy large volumes, while others report they are taking advantage of the port deals ahead of an expected US domestic rebar price increase sometime this month.
As for offers for future arrival, prices are stable this week. US import rebar offers from Mexico are still at $27.00-$28.00 cwt. ($595-$617/mt or $540-$560/nt) DDP Houston, and import rebar offers from Turkey are also at $27.00-$28.00 cwt. ($595-$617/mt or $540-$560/nt) DDP loaded truck at US Gulf ports.