Order activity continues to trend slow within the US import rebar market, but based on rising prices overseas and in the US domestic rebar market, import offers have increased slightly week-on-week. US import rebar offers from both Mexico and Turkey have risen by $0.50 cwt. ($11/mt or $10/nt), to the range of $27.50-$28.50 cwt. ($606-$628/mt or $550-$570/nt) DDP Houston and DDP loaded truck at US Gulf ports, respectively.
Sources tell SteelOrbis that they don’t expect import rebar offers to rise at the same pace as US domestic rebar, which is up $2.00 cwt. ($44/mt or $40/nt) after mills announced price increases in the last few days. Import offers are expected to remain firm, but still lower than domestics in the hopes that buyers will take advantage of the price spread and book orders.