As the third quarter comes to a close, sources tell SteelOrbis that US import rebar offers are likely to continue drifting slightly downward into the fourth quarter. Demand and purchasing activity is steady if not robust, and though the margin between import and domestic rebar offers is still “comfortable,” domestic rebar prices are expected to keep dropping and sources say import offers will follow the trend down.
This week, US import rebar offers from Algeria are unchanged at $44.50-$45.50 cwt. ($981-$1,003/mt or $890-$910/nt) DDP loaded truck in US Gulf ports, although fewer offers are being heard at the top end of the range. Meanwhile offers from Mexico have dipped again, from $47.00-$48.00 cwt. ($1,036-$1,058/mt or $940-$960/nt) DDP Houston last week to $46.00-$47.00 cwt. ($1,014-$1,036/mt or $920-$940/nt) DDP Houston this week.