Inquiry and purchasing activity are quiet within the US domestic and import rebar markets this week ahead of the Thanksgiving holiday, although some sources have pointed out factors that could result in a weakening trend moving into 2020. Slow demand is typical for this time of year, but sources are pointing to a lack of interest in future purchases—specifically with imports—that hints at a weak forecast for spring construction demand.
US import rebar offers are unchanged this week, at $28.50-$29.50 cwt. ($628-$650/mt or $570-$590/nt) DDP loaded truck at US Gulf ports from Spain, $29.00-$29.50 cwt. ($639-$650/mt or $580-$590/nt) DDP Houston from Mexico, and $28.00 cwt. ($617/mt or $560/nt) DDP loaded truck at the port from Turkey.
On the domestic front, US rebar mills have so far avoided a formal price increase, although sources say that expectations for another uptick in US domestic scrap prices in December could change their minds. For now, US domestic rebar spot prices are unchanged this week at $30.50-$31.50 cwt. ($610-$630/nt or $672-$694/mt) ex-Midwest mill and $31.50-$32.00 cwt. ($630-$640/nt or $694-$705/mt) ex-East coast mill.