As market dynamics put pressure on rebar prices in Turkey this week, sources report lower US import rebar offers from the country along with an increase in inquiry activity. Import rebar offers from Turkey are now in the range of $47.00-$48.00 cwt. ($1,036-$1,058/mt or $940-$960/nt) DDP loaded truck in US Gulf ports, down $2.00 cwt. ($44/mt or $40/nt) on the high end of last week’s range.
Offers from Mexico have also drifted downward this week, to $47.00-$49.00 cwt. ($1,036-$1,080/mt or $940-$980/nt) DDP Houston, down $1.00 cwt. ($22/mt or $20/nt) on the high end of last week’s range. Sources tell SteelOrbis that buyers are showing a growing interest in import offers, especially as it appears that US domestic rebar mills could be resistant to offering deals if US domestic scrap prices drop this month as predicted.