With less than two weeks left in the year, US import rebar buyers are remaining “on the fence,” sources say, with the expectation of decreased prices in January. US domestic rebar prices are soft and could get softer if US domestic scrap prices decline next month, and sources say that lower supplies of import rebar arrivals will not have a measurable effect on the market. As such, prices for import rebar offers to the US are “primed” for a decrease after the holiday season, which is also affecting demand this week.
Prices in the US import rebar market, therefore, are stable week-on-week. Import rebar offers in the US market from Italy and Spain are still around $38.50 cwt. ($849/mt or $770/nt) DDP loaded truck at US Gulf ports.