Offer prices within the US import rebar market have not changed noticeably in the last week, and sources tell SteelOrbis that inquiry and buying activity are “abnormally” quiet for this time of year. Part of the low activity levels has been attributed to US domestic rebar prices, which up until recently were trending close on the low end to current import rebar offers. But now that US mills have announced a $1.00 cwt. ($22/mt or $20/nt) price increase effective with new orders, sources say interest in imports will soon pick up.
For now, US import rebar is still being offered from Italy and Spain around $34.50 cwt. ($761/mt or $690/nt) DDP loaded truck at US Gulf ports. As for available inventory at US ports, traders are still reportedly working through the 102,492 mt in import permits recorded for January. But February import permit totals only reached 27,336 mt (as of Feb. 26), indicating position availability will soon dwindle.