Although deals for significant import rebar tonnage were booked earlier this month from Turkey, import buying activity in the US has remained relatively quiet as the US market still works through existing import inventory.
Offers for imported rebar in the US domestic market from Turkey are still at a minimum of $38.25 cwt. ($765/nt or $843/mt) DDP loaded truck at US Gulf ports, reflecting no change in the last week. Sources say demand for both import and domestic rebar is trending light as usual during the summer, but the market could see “significant movement” once summer ends. Import inventory at pre-Section 232 prices is expected to dry up by September at the earliest, which some sources speculate will lead to further US domestic rebar price increases. If that comes to pass, interest in imports could increase depending on how wide the margin is between import offers and domestic spot prices at that time.