While overall demand for imported rebar in the US is tepid, most overseas purchasing activity is being concluded at the small volume level, according to sources, whereas large-volume customers are taking a breather from the glut of imports that came into the US earlier this year. As such, offer prices from Turkey are unchanged at $32.00-$33.00 cwt. ($705-$728/mt or $640-$660/nt) DDP loaded truck in US Gulf ports--however, traders report that unsold positions are likely available for less than $32.00 cwt. Mexican rebar offer prices are also steady this week at $31.75-$32.75 cwt. ($700-$722/mt or $635-$655/nt) DDP loaded truck delivered to US border states, but sources say that Mexican mills can be persuaded to dip to $31.50 cwt. ($694/mt or $630/nt) or lower with strong negotiation.
As for domestic prices, the spot range has remained steady in the last week, at $35.25-$36.25 cwt. ($777-$799/mt or $705-$725/nt) ex-mill. However, sources tell SteelOrbis that there might be special pricing out there for larger customers, which could extend to a wider range of customers if shredded scrap pricing drops next month as predicted--a large decrease in scrap would likely result in an official transaction price decrease, but anything less than $20/lt would probably garner a neutral price move for July shipments.