US domestic rebar prices maintain firmness as import offers drop

Wednesday, 11 May 2022 19:28:31 (GMT+3)   |   San Diego
       

Sources tell SteelOrbis that US domestic rebar mills are still busy, and demand is such that they won’t need to starting making deals quite yet. However, after US domestic scrap prices dropped $75/gt this month, rebar prices are reportedly getting more vulnerable to deals. And if scrap prices decrease again in June according to early predictions, sources say rebar buyers will have more leverage.

For now, US domestic rebar offers are steady in the range of $60.50-$61.50 cwt. ($1,334-$1,356/mt or $1,210-$1,230/nt) ex-mill in the Midwest, and $59.50-$60.50 cwt. ($1,312-$1,334/mt or $1,190-$1,210/nt) ex-mill on the East coast.

Softening import offers could also start putting pressure on US domestic rebar prices. Sources tell SteelOrbis that offers from Algeria are now in the range of $59.00-$60.00 cwt. ($1,301-$$1,323/mt or $1,180-$1,200/nt) DDP loaded truck in US Gulf ports, down $1.00 cwt. ($11/mt or $10/nt) since last week. Offers from Mexico are at $58.00-$59.00 cwt. ($1,279-$1,301/mt or $1,160-$1,180/nt) DDP Houston, down $1.00 cwt. on the high end of the range since last week. Sources tell SteelOrbis that offers from Turkey are likely much lower, but Turkish producers are reluctant to name a specific price.


Similar articles

Brazilian rebar export prices decrease

18 Mar | Longs and Billet

Turkish domestic rebar spot prices rise in local currency

18 Mar | Longs and Billet

Local Chinese longs prices still fall sharply, is bottom close?

18 Mar | Longs and Billet

Major steel and raw material futures prices in China – March 18, 2024 

18 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 15, 2024

15 Mar | Longs and Billet

Iskenderun-based Turkish mill cuts its rebar price

15 Mar | Longs and Billet

Ex-Asia rebar rapidly loses ground amid falling steel and raw material prices in China

15 Mar | Longs and Billet

Southern European longs market faces weak demand, falling prices

15 Mar | Longs and Billet

Domestic rebar prices in Taiwan - week 11, 2024

15 Mar | Longs and Billet

US domestic rebar prices maintain within ranges

14 Mar | Longs and Billet