The third price increase within a month’s time has already absorbed into the US domestic rebar market, closing out the year at prices that haven’t been reached since the immediate aftermath of Section 232 tariffs in March 2018. After the $2.00 cwt. ($44/mt or $40/nt) price increase announced late last week, US domestic rebar spot prices are now in the range of $38.00-$39.50 cwt. ($838-$871/mt or $760-$790/nt) ex-mill in the Midwest, and $36.50-$38.00 cwt. ($805-$838/mt or $730-$760/nt) ex-mill on the East coast.
As for rebar import offers, sources say importers have “no choice but to raise prices” despite demand for imports remaining tepid at the moment. US import rebar offers from Turkey are now ranging from $33.00-$34.00 cwt. ($728-$750/mt or $660-$680/nt) DDP loaded truck at US Gulf ports, up $1.00 cwt. ($22/mt or $20/nt) on the low end. Offers from Mexico, meanwhile, are up $1.00 cwt. ($11/mt or $10/nt), now ranging at $32.00-$33.00 cwt. ($705-$728/mt or $640-$660/nt) DDP Houston.