New arrivals of US import rebar have started to dwindle from many countries, reflecting orders placed before the Section 232 tariffs were announced. And because all imported rebar that is not from temporarily exempted countries is still subject to the 25 percent tariff, demand for positions at US ports is not as robust as traders would prefer, according to sources.
As of May 15, US import rebar permits totaled 35,326 mt for the month, with most tonnage from Turkey. Sources tell SteelOrbis that Turkey is still lobbying for an exemption to the Section 232 tariffs, and offers from Turkey will remain muted until an agreement is reached. Furthermore, sources say Turkey might not be interested in exchanging tariffs for quotas, so Turkish rebar offers to the US could remain high, especially considering the 25 percent tariff is on top of existing AD/CVD duties.
For now, sources say offers for imported rebar in the US domestic market from Italy are still heard around $38.00-$39.00 cwt. ($760-$780/nt or $838-$860/mt) DDP loaded truck at US Gulf Ports, with Mexican offers heard at about $1.00 cwt. ($20/nt or $22/mt) higher.