Sources tell SteelOrbis that barring any “major unforeseen event,” both US import and domestic rebar prices are expected to trend mostly stable for the remainder of the year, which reduced the burden of uncertainty on import buyers in the US.
“We know what the margin’s going to be, we pretty much know what demand is going to be, so it finally feels safe to book,” one source said. Already, a sizeable 30,000 mt rebar order from Turkey was booked last week, as SteelOrbis reported, and sources say that while orders booked now will arrive in November/December—which is typically a slower demand season for rebar due to the weather—interest nevertheless is continuing to improve.
So far, the rise in interest has not translated to higher offer prices, and sources say while some importers might try to firm offers a bit, overall they should remain relatively stable. Currently, US import offers from Mexico are stable at $28.00-$29.00 cwt. ($617-$639/mt or $560-$580/nt) DDP Houston. As for import rebar from Turkey, offers are still in the range of $28.25-$29.25 cwt. ($623-$645/mt or $565-$585/nt) DDP loaded truck at US Gulf ports.