Although sources describe demand for US import rebar as “decent but not robust,” inquiry activity has increased in the last week since two major trade news stories were reported: Mexico and Canada are now exempt from Section 232 tariffs, and tariffs on Turkish steel have returned to 25 percent. Buyers are reportedly interested in how the news has affected import rebar offer prices from other countries, and while there has not been a significant downtrend in prices, sources say offers are “more vulnerable than before.”
Now that European sources of import rebar have more competition, sources say buyers can be “a little more aggressive” when negotiating, and although there have not been enough transactions at lower prices to pull general offer price ranges downward, it is “definitely possible” to order beneath the following ranges.
Mexican rebar offers are still trending close to European offers, with US import rebar offers from Spain at $33.50 cwt. ($739/mt or $670/nt) DDP loaded truck at US Gulf ports. Offers from Bulgaria and Portugal are around $34.00 cwt. ($750/mt or $680/nt) DDP loaded truck at US Gulf ports. Meanwhile, importers are still awaiting solid new offers from Turkey.