Inquiry activity within the US import rebar market has increased in the last week, sources say, as it appears that offers are starting to rebound after bottoming at the end of last year. New offers are up slightly week-on-week, but sources say that buyers could expect additional firming if US domestic rebar prices start to rise after a long period of stability; although US scrap prices are up this month, some sources don’t believe $30/mt is enough to result in an official mill increase.
This week, US import rebar offers from Algeria are up $0.50 cwt. ($11/mt or $10/nt) into the rang of $42.00-$43.00 cwt. ($926-$948/mt or $840-$860/nt) DDP loaded truck in US Gulf ports. Offers from Turkey are also up $0.50 cwt. into the range of $44.00-$45.00 cwt. ($970-$992/mt or $880-$900/nt) DDP loaded truck in US Gulf ports.
Offers from Mexico, meanwhile, are up $1.00 cwt. ($22/mt or $20/nt), now at $44.50-$45.50 cwt. ($981-$1,003/mt or $890-$910/nt) DDP Houston.