Overall, US import rebar offers have trended neutral over the last week, but sources tell SteelOrbis that deals are still available for buyers expressing serious interest in orders. The price trend is partially attributed to low demand, while lower US domestic scrap prices this month has put pressure on both domestic and import rebar prices.
As such, US import rebar offers from Spain, Bulgaria and Portugal are still ranging from $29.50-$30.00 cwt. ($650-$661/mt or $590-$600/nt) DDP loaded truck at US Gulf ports, and offers from Algeria and Mexico are hovering around $29.50 cwt. ($650/mt or $590/nt) DDP loaded truck at US Gulf ports and delivered to Houston, respectively.
Meanwhile, despite attempts by Turkish rebar mills to increase export offers in general, offers to the US have not moved—sources say any increase in prices in the US rebar market right now are “not supportable.” As such, US import rebar offers from Turkey are still ranging from $29.00-$30.00 cwt. ($639-$661/mt or $580-$600/nt) DDP loaded truck at US Gulf ports.