Although demand remains tepid in the US import rebar market and offer prices continue to trend soft, week-over-week prices have remained largely level, with a few unconfirmed outlier deals pointing to overall lower offers in the near term.
US import rebar offers from Spain, Bulgaria and Portugal are still around $30.00 cwt. ($661/mt or $600/nt) DDP loaded truck at US Gulf ports, while offers from Algeria and Mexico are still in the range of $29.50 cwt. ($650/mt or $590/nt) DDP loaded truck at US Gulf ports and delivered to Houston, respectively, and offers from Turkey are still ranging from $29.50-$30.00 cwt. ($650-$661/mt or $590-$600/nt) DDP loaded truck at US Gulf ports.
However, sources tell SteelOrbis that outlier offers have been heard for up to $0.50-$1.00 cwt. ($11-$22/mt or $10-$20/nt) below the general price levels from certain mills, indicating overall offer ranges are likely to trend lower in Q4.