US import rebar buyers continue in “observation mode”

Tuesday, 20 August 2019 22:07:26 (GMT+3)   |   San Diego

While some sources indicate that the price bottom in the US import rebar market might not have been reached yet, buyers are continuing to operate in “observation mode,” maintaining inquiry levels but not rushing to book large orders. One source speculated that buyers are waiting for prices to drop further, while another attributed the “wait and see” stance on less-than-robust demand.

Offer prices for US import rebar have stayed relatively stable week-on-week, with offers from Spain and Algeria around $30.50 cwt. ($672/mt or $610/nt) DDP loaded truck at US Gulf ports, offers from Bulgaria and Portugal closer to $31.50 cwt. ($694/mt or $630/nt) DDP loaded truck at US Gulf ports, and offers from Mexico at $30.00 cwt. ($661/mt or $600/nt) delivered to Houston.

As for Turkish rebar offers to the US, most offers are still being heard in a range of $31.00-$31.50 cwt. ($683-$694/mt or $620-$630/nt) DDP loaded truck at US Gulf ports, amid reports of a 15,000 mt order booked this week at around $640/mt CFR (with duties paid) into the Gulf.

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