After the US Department of Commerce (DOC) issued final margins in the AD/CVD case against rebar from Turkey and Japan last week, prices are beginning to reflect the results. With Japanese AD margins ranging from 206.43-209.46 percent, the country has been priced out of the market. As for Turkey, only one producer, Habas, has been eliminated from the US import market with combined AD/CVD margins of 21.6 percent. Margins for other Turkish producers ranged from 6.94-8.17 percent, and as such, import rebar offers from Turkey have increased to compensate.
Imported rebar in the US domestic market from Turkey is now available for around $24.50-$25.50 cwt. ($490-$510/nt or $540-$562/mt) DDP loaded truck in US Gulf ports, reflecting a $1.00 cwt. ($20/nt or $22/mt) increase in the last week.
However, US-based traders are more concerned about the results from the Section 232 investigation currently underway. Sources say such investigations are not as “rigorous” as standard AD/CVD cases, therefore there is a “decent possibility” that substantial tariffs could be applied.