Although interest in US import rebar has been tepid in recent months due to US domestic rebar prices dwindling downward, sources tell SteelOrbis that inquiry activity has improved slightly in the last week, as buyers reportedly expect US domestic rebar mills to attempt a price firming trend in light of higher August scrap prices.
While sources do not expect a formal price increase announcement from US mills, the perception of firmer prices on the horizon for domestic rebar could be enough to spur import orders. The price margin between US domestic and import rebar offers is currently reported as “comfortable,” and though interest in imports is rising, prices have so far remained stable in the last week.
Import rebar offers to the US from Spain and Algeria are still reported around $30.50 cwt. ($672/mt or $610/nt) DDP loaded truck at US Gulf ports, while offers from Bulgaria and Portugal are near $31.50 cwt. ($694/mt or $630/nt) DDP loaded truck at US Gulf ports. Offers from Turkey have been heard around $31.00 cwt. ($683/mt or $620/nt) DDP loaded truck at US Gulf ports, while offers from Mexico are reported closer to $30.00 cwt. ($661/mt or $600/nt) delivered to Houston.