Although the US rebar market in general chugged along through a typically slow demand season, buying activity is expected to pick up next month, even for the import rebar market that has fared worse than the domestic market this summer.
Sources say the price margin between import and domestic rebar offers—especially considering US mill “foreign fighter” deals—isn’t wide enough to book serious tonnage at the moment, but if US scrap prices rise next month according to forecasts, domestic mills might be less willing to deal, opening up order opportunities for importers.
For now, US import rebar offers are stable at around $38.00-$39.00 cwt. ($838-$860/mt or $760-$780/nt) DDP loaded truck in US Gulf ports, although there have been reports of some offers closer to $37.00 cwt. ($816/mt or $740/nt), which is still largely unattractive to buyers. Mexican rebar offers are also stable this week at $41.50-$42.50 cwt. ($915-$937/mt or $830-$850/nt) DDP Houston.