Inquiries within the US import rebar market are mostly quiet this week, sources say, which is expected due to the upcoming Thanksgiving holiday. Offers for imported rebar in the US domestic market from Turkey are still trending at $28.50-$29.50 cwt. ($570-$590/nt or $628-$650/mt) DDP loaded truck in US Gulf ports, unchanged in the last week.
Some sources tell SteelOrbis they expect new offers as soon as next week, but one of the primary factors behind the lackluster demand for US import rebar is the narrow margin between most import offers and US domestic spot prices. With reports of dealmaking prevalent in the domestic market, many buyers are reportedly waiting for import offers to adjust into a more “attractive” range. Until then, sources predict continued softness in import rebar demand.