Is a price uptrend on the horizon for US import rebar?

Tuesday, 16 July 2019 00:50:02 (GMT+3)   |   San Diego
       

Now that many buyers in the US import rebar market perceive a price bottom has been reached, interest and inquiry activity has increased over the last week and sources indicate offer prices could soon start to tick upward.

Already, sources report US import rebar offers from Spain trending upward, with few if any offers heard as low as last week’s offer price of $33.00 cwt. ($728/mt or $660/mt) DDP loaded truck at US Gulf ports. Offers from Bulgaria and Portugal are stable this week at $33.50 cwt. ($739/mt or $670/nt) DDP loaded truck at US Gulf ports, but sources say if offers from Spain start to rise, offers from other European sources will likely follow.

Elsewhere, US import rebar offers from Turkey are being heard around $32.00 cwt. ($705/mt or $640/nt) DDP loaded truck in US Gulf ports, while offers from Mexico are reportedly more in line with European offers, despite the country being exempted from Section 232 tariffs.


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