Though import rebar demand has generally been moderate in the US, some deals were still closed for the Turkish origin.
Last week, a Marmara region-based steel producer sold 15,000 mt of rebar for April shipment to the US at around $610/mt CFR on theoretical weight basis, duty paid, SteelOrbis has learned. Current offers are standing at $610-615/mt CFR on theoretical weight basis for the same shipment term. Two weeks ago, the sides were in negotiation at levels $10-15/mt lower.
According to sources, rebar stocks in the US are currently at medium levels. “There is a certain shortage of small sizes, though I don’t see much in the market which can affect pricing or trigger larger purchases,” a trading company told SteelOrbis. As a result, some sources have doubts that Turkish sellers will be able to easily increase their sales volumes to the US in the coming weeks.
Alternative suppliers, specifically those from the EU and Algeria, are currently out of the market. The latest sales from Spain were closed around two weeks ago, SteelOrbis has learned.
