Inquiry activity within the US import rebar market has quieted somewhat as buyers anticipate the recent US-EU tariff rate quota deal. Some sources believe that “very attractive” offers from European rebar producers are likely to emerge, while others contend that offshore producers have “little to no incentive” to offer significantly lower prices if the market can bear higher prices with such strong current demand. The tariff rate quota system will go into effect Jan. 1, 2022, and it remains to be seen if offers will drop by 25 percent immediately.
For now, US import rebar offers are stable week-on-week in the range of $45.50-$46.50 cwt. ($1,003-$1,025/mt or $910-$930/nt) DDP loaded truck in US Gulf ports from Turkey and $46.00-$48.00 cwt. ($1,014-$1,058/mt or $920-$960/nt) DDP Houston from Mexico.