The US import rebar market continues to trend vulnerable as interest remains low, and sources tell SteelOrbis that the possibility of US domestic rebar prices getting softer has many buyers hesitant to place large import orders.
Sources warn that if US shredded scrap prices drop this month as anticipated, US rebar buyers will continue sticking with domestic mills for their needs, especially if it seems like individual dealmaking is becoming widespread again.
However, US import rebar offers are continuing to dwindle downward, and if the margin between import and domestic material widens even further, sources say that could spur some import interest before the end of the year.
This week, US import rebar offers from Algeria and Egypt are down about $0.50 cwt. ($11/mt or $10/nt), now ranging from $35.50-$36.50 cwt. ($783-$805/mt or $710-$730/nt) DDP loaded truck in US Gulf ports. Mexican offers are down about $1.00 cwt. ($22/mt or $20/nt), now in the range of $39.00-$40.00 cwt. ($860-$882/mt or $780-$800/nt) DDP Houston.