After experiencing price upticks last week, the US import rebar market has trended neutral this week, but perspectives for higher prices in the near-term continue. Inquiry activity is still up, and sources tell SteelOrbis that buyers are much more willing to place orders than they were at the beginning of the month, now that it seems like prices won’t drop any further.
According to the speakers at SteelOrbis’ 14th annual Rebar & Wire Rod conference on January 16, the expected rise in demand from infrastructure projects will indirectly benefit the US import rebar market, considering US producers will be busy supplying “Buy America” contracts, opening up opportunities for non-federal projects to be supplied with imports.
While upticks in import prices are expected in the near-term, offers this week are stable at of $41.50-$42.50 cwt. ($915-$937/mt or $830-$850/nt) DDP loaded truck in US Gulf ports from Algeria, $44.00-$45.00 cwt. ($970-$992/mt or $880-$900/nt) DDP loaded truck in US Gulf ports from Turkey, and $43.50-$44.50 cwt. ($959-$981/mt or $870-$890/nt) DDP Houston from Mexico.