Demand within the US import rebar market was already tepid, but the likelihood of softening in the US domestic rebar market has made imports even less desirable, according to sources. The price margin between imports and domestics has been relatively narrow, and while few expect a formal price decrease for US domestic rebar prices, the lower scrap prices predicted this month could result in quiet dealmaking on an individual basis.
As such, slightly lower offers in the import rebar market have not made much of an impact on inquiry activity, sources say. US import rebar offers from Egypt and Algeria are now around $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt) DDP loaded truck in US Gulf ports, down $0.50 cwt. ($11/mt or $10/nt) in the last week. Offers from Mexico, meanwhile, are down about $1.00 cwt. ($22/mt or $20/nt), now ranging from $39.00-$40.00 cwt. ($860-$882/mt or $780-$800/nt) DDP Houston.