While US rebar importers hoped for a clear market direction once the Section 232 investigation results were complete, the US DOC decision to not release the results publicly—instead passing them to Donald Trump, who has 90 days to respond—has only increased uncertainty in the market. Sources say some offshore rebar mills are including the “risk” of potential new tariffs in their rebar offer prices to the US, while others claim mills are trying to push through as many orders as they can, at discounted prices if possible, before a final announcement.
As such, sources report a wide range of import rebar offers to the US. At the top end, some offers for imported rebar in the US domestic market from Turkey are being heard at $31.50 cwt. ($630/nt or $694/mt) DDP loaded truck in US Gulf ports, other sources claim some offers just below $30.00 cwt. ($600/nt or $661/mt) DDP loaded truck in US Gulf ports.
Another factor that could soon complicate the US import rebar market is a growing influx of import arrivals at US ports. While October, November and December rebar import totals to the US were unusually low, US steel import permit data show 81,986 mt for this month alone (as of Jan. 16), indicating another “Q1 import flood” as is typical in the US rebar market.