Despite hints of an impending price uptrend in the US import rebar market, order activity remains muted, with a notable drop in interest in Mexican rebar imports after a recent US Department of Commerce decision.
The DOC announced increased preliminary antidumping margins on rebar imports from Mexico this month, with Deacero’s assigned margin raised to 7.25 percent from zero percent, and Grupo Simec’s margin raised to 6.75 percent form 3.65 percent. All other Mexican rebar exporters are now subject of a 7.11 percent margin, up from 3.65 percent. The immediate effect of the move is an increase in Mexican rebar import offers to the US, from $29.50-$30.00 cwt. ($650-$661/mt or $590-$600/nt) DDP Houston to a wider range of $30.50-$32.00 cwt. ($672-$705/mt or $610-$640/nt) DDP Houston, depending on the producer.
Elsewhere, US import rebar offers from Spain are unchanged this week at $29.50-$30.50 cwt. ($650-$672/mt or $590-$610/nt) DDP loaded truck at US Gulf ports, and offers from Turkey are unchanged at to $29.00-$29.50 cwt. ($639-$650/mt or $580-$590/nt) DDP loaded truck at US Gulf ports.