Sources continue to report lackluster interest in the US import rebar market, with many buyers continuing to turn to the domestic rebar market where deals are still available. Offer prices have remained stable as a result, with offers from Algeria still trending at $38.00-$39.00 cwt. ($838-$860/mt or $760-$780/nt) DDP loaded truck in US Gulf ports, while Mexican rebar offers are still at $41.50-$42.50 cwt. ($915-$937/mt or $830-$850/nt) DDP Houston.
Offers from Egypt have also been heard on par with Algerian prices, but Algeria continues to garner the most interest. Turkish rebar offers, which have been priced out of the market for a while due to high energy costs in Turkey, are not likely to return after the news today that revised AD duties against Turkey rebar have been increased to nearly 30 percent for all producers except one, Colakoglu. Sources say that while this gives Colakoglu an advantage, it is not yet clear whether they will utilize the ruling to recapture US import market share.