As the US steel industry in general returns from the Labor Day holiday this week, the import rebar market in particular is taking “baby steps” to ramping up after the annual summer slowdown. Sources tell SteelOrbis that purchasing activity hasn’t bounced back quite yet, but “it’s still early” and by next week, more buyers are expected to return to the market. Another factor in their hesitance to book orders is the fact that the US’ primary source of rebar imports—Turkey—is exhibiting restrained market activities ahead of the Feast of Sacrifice holiday next week. Traders tell SteelOrbis that offer prices from Turkey are largely unchanged since last week, still in the range of $19.50-$20.50 cwt. ($390-$410/nt or $430-$452/mt) DDP loaded truck in US Gulf ports.
Positions from Turkey are still available, but no in abundance, although sources point out that two rival import rebar producers—Taiwan and Japan—already reached about half their total month-long August import permits in the first few days of this month. As of September 2, Japan’s import permits totaled 16,912 mt (compared to 33,984 mt in August) and Taiwan’s import permits totaled 13,058 mt (compared to 39,022 mt in August). Sources tell SteelOrbis that positions prices for Taiwan are generally comparable, while Japanese rebar offers are slightly higher than Turkish rebar—but “worth it” when it comes to quality.