Although previously-reported pricing within the US import rebar market has remained stable this week, along with muted buying activity, SteelOrbis has learned of import offers from Bulgaria and Portugal. As reported last week, import arrivals from the two countries have accelerated this month, with 15,870 mt in rebar import permits recorded from Bulgaria so far in March (as of March 19) and 24,366 mt in permits from Portugal.
Offer prices from both countries are reportedly ranging from $34.00-$34.50 cwt. ($750-$761/mt or $680-$690/nt) DDP loaded truck at US Gulf ports. Meanwhile, import rebar offers to the US from Spain remain around $35.00 cwt. ($772/mt or $700/nt) DDP loaded truck at US Gulf ports, while rebar offers to the US from Italy remain around $34.50 cwt. ($761/mt or $690/nt) DDP loaded truck at US Gulf ports.
Sources tell SteelOrbis that traders are “laying low” in terms of new orders, hoping for upward price pressure, and also not offering too many deals on existing inventory.