Although import rebar offer prices have shown a steady trend week-on-week, sources tell SteelOrbis that interest in imports—both readily-available positions and orders for future arrivals—is “decidedly up.”
US construction industry indicators are starting to point upward, and many delayed construction projects are finally starting to commence, giving US rebar buyers a measure of confidence in ordering material for the future. However, sources point out that import positions won’t be available for long, as the product currently available at US ports is starting to reflect limited orders during the height of pandemic-related shutdowns. The latest US import rebar permit data show a significant drop in arrivals so far in June compared to May (19,183 mt as of June 16 vs. 122,424 mt in May).
As for offer prices, US import rebar offers from Turkey are still at $28.00-$29.00 cwt. ($617-$639/mt or $560-$580/nt) DDP loaded truck at US Gulf ports, while offers from Mexico are still at $28.50-$29.50 cwt. ($628-$650/mt or $570-$590/nt) DDP Houston. Both import offers are stable week-on-week following a slight increase the week before.