SteelOrbis has been informed that uncertainties and pessimism prevail in the import rebar market in the US since Mexico and Canada may be exempted from the US Section 232 tariffs and also the 50 percent tariff on steel imports from Turkey may be reduced to 25 percent. Having already been at low levels, price inquiries from the US for Spanish rebar have decreased further over the past week. In the meantime, Spanish rebar exporters offers to the US have remained stable week on week at €470-475/mt ($536-542/mt) FOB.
On the other hand, having received price inquiries from southern Cyprus, Spanish rebar suppliers have reduced their offers to the export markets, excepting the US, by €10/mt week on week to €480-490/mt ($547-559/mt) FOB.
€1 = $1.14