According to attendees of SteelOrbis’ 10th Annual Rebar & Wire Rod Conference in Las Vegas on Monday, Jan. 21, “uncertainty is the only certainty,” which is negatively affecting buyers’ ability to accurately forecast the market and order accordingly. With no resolution in sight to the 50 percent tariffs against Turkish rebar imports, traders are seeking out sources beyond Italy and Spain, finding outlier deals where they can.
According to sources, Mexican rebar is slowly making its way back in the market, but Mexican arrivals are focused mainly in the US southwest, not necessarily spreading throughout the rest of the country. For now, the most viable offers remain from Italy and Spain, with prices level this week in the range of $38.50 cwt. ($849/mt or $770/nt) DDP loaded truck at US Gulf ports.