Buyers within the US import rebar market continue to believe that offers have not hit bottom, and sources say they are “putting out feelers” to see where prices are at but most are still reportedly holding off on making orders for the moment.
Import rebar offers from Algeria are now in the range of $53.50-$54.50 cwt. ($1,179-$1,201/mt or $1,070-$1,090/nt) DDP loaded truck in US Gulf ports, compared to a range last week of $54.50-$55.50 cwt. ($1,201-$1,224/mt or $1,090-$1,110/nt) DDP loaded truck in US Gulf ports.
Offers from Mexico, meanwhile, are also down $1.00 cwt. ($22/mt or $20/nt) week-on-week, with prices now ranging from $55.50-$56.50 cwt. ($1,224-$1,246/mt or $$1,110-$1,130/nt) DDP Houston.