With buyers and sellers of US import rebar just returning to the market today after the holidays, sources say not much has changed in the last week. Updated offers could be available as soon as next week, however, as buyers start to look ahead to the spring construction season.
So far, sources report construction demand this spring should be comparable to last year, unless speculation about a possible recession in the US comes true. For now, until there are concrete signs otherwise, buyers are operating as if demand conditions will trend normal in the coming months.
Until new information is available, the last-heard offers for import rebar in the US domestic market from Italy and Spain were around $38.50 cwt. ($849/mt or $770/nt) DDP loaded truck at US Gulf ports.