The US House of Representatives finally passed a long-awaited infrastructure bill over the weekend, and many in the US import rebar market are “moderately optimistic” about a potential increase in rebar demand. While infrastructure projects will be restricted to using domestic steel per “Buy American” regulations, increased demand will “open the door” for more imports to supply private construction projects. Any rise in demand won’t become apparent until next year at the earliest, sources say, but there is anticipation of potential inventory build-ups before the spring construction season begins in earnest.
So far, the news has not had an effect on US import rebar offers, which 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.