With last week’s formal announcement of the Section 232 “blanket” steel tariff rate of 25 percent, market players within the US are still trying to figure out the new landscape. Not surprisingly, as with last week, no new offers from Turkey for import rebar are currently heard in the market.
With the exemption for Mexican steel products from the tariff, Mexican rebar supplies may grow into the US, though, with the steel tariffs waiting to become effective until March 23 and Washington D.C. being flooded by exemption petitions, sources close to SteelOrbis report a wait-and-see stance on import plans.