Sources within the US import rebar market tell SteelOrbis that while they are ready to restart regular market activities following the year-end holidays, there is “too much uncertainty and chaos” from the weeks-long US government shutdown to make any definitive plans. Import data is currently unavailable, and requests for tariff exemptions are at a standstill while the US Department of Commerce remains closed.
Additionally, there is not much certainty regarding how much longer the Section 232 tariffs will even be in effect, along with uncertainty regarding the ratification of the new USMCA trade deal in a Democrat-controlled House of Representatives. As such, buyers in the US import rebar market are reportedly seeking out quote offers, but they are hesitant to book large orders at this time.
Sources say the newest offers heard are close to offers available at the end of 2018. Offers for import rebar in the US domestic market from Italy and Spain are still around $38.50 cwt. ($849/mt or $770/nt) DDP loaded truck at US Gulf ports.