As many US states start to reopen, sources within the US rebar market are forecasting a near-term uptick in demand. And with US domestic rebar offers remaining firm, some buyers are showing renewed interest in imports, banking on a solid increase in construction activities by the time the material arrives. While a boost in rebar demand might eventually lift import offers, for now prices have remained stable as some buyers continue to tread cautiously.
“Things are reopening, which is great,” one source said, “but if there’s a resurgence of the virus because of it, you’re not going to want to be stuck with a huge import order in a couple months.”
For now, US import rebar offers from Turkey and Mexico are stable week-on-week in the range of $28.00-$29.00 cwt. ($617-$639/mt or $560-$580/nt) DDP loaded truck at US Gulf ports and DDP Houston, respectively.