Sources report tepid buying and inquiry activity in the US import rebar market this week, with many attributing the lull to the upcoming Labor Day holiday. Offer prices have been heard in the same range as last week, with offers from Algeria unchanged at around $45.00-$46.00 cwt. ($992-$1,014/mt or $900-$920/nt) DDP loaded truck in US Gulf ports and offers from Mexico in the range of $50.00-$51.00 cwt. ($1,102-$1,124/mt or $1,000-$1,020/nt) DDP Houston. Sources also report that for now, Turkish offers are “comfortably below” Algerian rebar offers, but if scrap prices stabilize, those low offers might not be available for long.
Either way, sources report a general sentiment that the market will start to pick up in the next month, especially for buyers eager to receive material before the end of the year. Ordering activity is expected to increase in the next couple weeks.