As import rebar continues to flow into US ports this month, sources tell SteelOrbis that while buyers are still largely sticking with domestic product, they are taking advantage of spot deals for already-arrived import rebar positions.
As of July 24, US import license data show 117,163 mt of rebar import permits, with 60,155 mt from Turkey alone. Sources say position material is available for prices beneath current offers for future arrival, with deals around $1.00 cwt. ($22/mt or $20/nt) lower, if not more.
Current US import rebar offers—for future arrival—are unchanged this week, despite a push from Turkish producers to raise prices based on higher scrap, because demand for future arrival remains “extremely low.”
US import rebar offers from Turkey are still at $27.50-$28.50 cwt. ($606-$628/mt or $550-$570/nt) DDP loaded truck at US Gulf ports from Turkey, while offers from Mexico are still at $28.00-$29.00 cwt. ($617-$639/mt or $560-$580/nt) DDP Houston.