Although many import rebar buyers in the US are still on the fence about placing large orders, sources tell SteelOrbis that activity should pick up soon. The prediction is based on perspectives that US domestic rebar offers have “virtually no chance” of declining in the next few months, making imports a reliably attractive alternative. And while some import offers could move upward, the general consensus is that import offers will stay “comfortably below” domestics in the near-term.
This week, US import rebar offers are continuing to trend neutral. Some sources report that higher offers from Mexico are circulating after the country raised its own domestic prices, but there is “little appetite” for higher prices and most buyers would rather wait. As such, offers from Mexico are unchanged week-on-week at $43.50-$44.50 cwt. ($959-$981/mt or $870-$890/nt) DDP Houston from Mexico.
Offers from Algeria are still at $41.50-$42.50 cwt. ($915-$937/mt or $830-$850/nt) DDP loaded truck in US Gulf ports, and offers from Turkey are still at $44.00-$45.00 cwt. ($970-$992/mt or $880-$900/nt) DDP loaded truck in US Gulf ports.