Although the application of AD/CVD duties on Turkish rebar imports to the US has kept prices mostly on a gradual uptrend in the last few months, sources tell SteelOrbis that global raw material trends and an eagerness to book orders to the US has left Turkish mills in a “tough position.”
“They want the orders, but they can’t go down too much,” one source said, adding that the uptrend in US domestic rebar prices is a “bright spot” in the market, driving “moderate” demand for imports. However, while traders report slightly lower quotes on the CFR level, sales prices in the US have remained relatively stable as traders gauge market sentiment.
As such, offers for imported rebar in the US domestic market from Turkey are still in the range of $28.50-$29.50 cwt. ($570-$590/nt or $628-$650/mt) DDP loaded truck in US Gulf ports.