Sources tell SteelOrbis that US import rebar offers are still soft, and while prices are mostly steady from last week from Mexico and Algeria, offers from Turkey are “very flexible,” although most quotes are inquiries from the buyer’s side, as Turkish mills are reportedly reluctant to name a firm number. Due to the strong likelihood that import rebar offers to the US will continue to dwindle downward, buyers are hesitant to book orders for the moment. With decent inventories and signs that the US domestic rebar market might soften soon, US rebar buyers can afford to wait on imports.
For now, US import rebar offers from Algeria are still trending at $59.00-$60.00 cwt. ($1,301-$$1,323/mt or $1,180-$1,200/nt) DDP loaded truck in US Gulf ports, while offers from Mexico are at $58.00-$59.00 cwt. ($1,279-$1,301/mt or $1,160-$1,180/nt) DDP Houston. Sources say there have been some inquiries for Turkish rebar heard at $58.00 cwt. ($1,279/mt or $1,160/nt) or less, DDP loaded truck in US Gulf ports, but no firm bookings have been heard.