Sources tell SteelOrbis that interest in US import rebar has ticked up slightly this week, as buyers perceive offers to be at or near the end of their long downtrend. However, buyers are still reportedly taking a cautious approach to booking orders, as one source said that “things can always change in a second,” referencing Section 232 tariffs on most US import rebar.
Now that Mexico has been relieved of those tariffs, sources say buyers are “very interested,” mostly due to shorter lead times compared to other import regions. Offer prices for Mexican rebar are reportedly hovering between Turkish and European offers, as Mexican mills are wary of new antidumping investigations if prices get too low.
Import rebar offers to the US from Spain are still close to $33.00 cwt. ($728/mt or $660/mt) DDP loaded truck at US Gulf ports, while offers from Bulgaria and Portugal are now nearing that same price point after dropping to $33.50 cwt. ($739/mt or $670/nt) DDP loaded truck at US Gulf ports two weeks ago. Turkish rebar offers, meanwhile, are still reported at $31.50 cwt. ($694/mt or $630/nt) DDP loaded truck at US Gulf ports.