With global scrap prices following a mostly stable trend at the moment, US import rebar offers have paused their decline, although sources say the pause probably won’t last long. For now, US import rebar offers from Turkey have remained in the range of $44.50-$45.50 cwt. ($981-$1,003/mt or $890-$910/nt) DDP loaded truck in US Gulf ports.
Offers from Algeria are also unchanged at $45.00-$46.00 cwt. ($992-$1,014/mt or $900-$920/nt) DDP loaded truck in US Gulf ports, while offers from Mexico are still in a “soft and getting softer” range of $50.00-$51.00 cwt. ($1,102-$1,124/mt or $1,000-$1,020/nt) DDP Houston. Sources say interest in imports remains high even though buyers are still waiting for prices to hit bottom, and few think this current pause represents the lowest that import offers will get.