Now that US import rebar offers dropped again week-on-week into significantly lower ranges, buyers are beginning to rethink their previously hesitant stance. With orders placed now set to arrive in October, sources say there is “no way” US domestic offers will be close to import offers at that time—previously, buyers were unsure about how fast domestic prices would soften, but now it seems as if the import downtrend is outpacing the domestic downtrend.
This week, import offers from Turkey are at $44.00-$45.00 cwt. ($970-$992/mt or $880-$900/nt) DDP loaded truck in US Gulf ports, while offers from Algeria are around $45.00-$46.00 cwt. ($992-$1,014/mt or $900-$920/nt) DDP loaded truck in US Gulf ports, both sources reflecting a $3.00 cwt. ($66/mt or $60/nt) decrease. Mexican rebar offers to the US, meanwhile, are still at $50.00-$51.00 cwt. ($1,102-$1,124/mt or $1,000-$1,020/nt) DDP Houston, although sources anticipate lower prices going forward.