Although actual purchasing activity in the US import rebar market is still relatively muted due to ongoing uncertainty, sources tell SteelOrbis that deals are being heard at “attractive” levels. US import rebar offers from European sources, primarily Italy and Spain, have been heard as low as $34.00 cwt. ($750/mt or $680/nt) DDP loaded truck at US Gulf ports.
Meanwhile, one source has reported an import rebar offer to the US from Turkey, despite steel products from that country still being subject to 50 percent Section 232 tariffs. The offer could not be confirmed by other sources as of publication, although it is “considerably lower” than European offers. While most sources were skeptical of the price level, one source said Turkey “could be desperate enough” to offer that low. Another source agreed, stating that Turkey’s order books are very low.