Although US import rebar offers are continuing to dwindle downward, interest remains “concerningly” low, according to sources. While some attribute import booking hesitation to the belief that US domestic rebar offers are on their way down as well, demand optimism is not as strong as many hoped it would be at this point in the year.
This week, US import rebar offers from Algeria are down $0.50 cwt. ($11/mt or $10/nt), to $41.00-$42.00 cwt. ($904-$926/mt or $820-$840/nt) DDP loaded truck in US Gulf ports, however sources tell SteelOrbis that even lower offers have been heard, but not on a widespread basis. Offers from Mexico, meanwhile, are also down $0.50 cwt. week-on-week, now ranging from $45.00-$46.00 cwt. ($992-$1,104/mt or $900-$920/nt) DDP Houston.