Although US import rebar offers remain comfortably below US domestic spot prices—which are expected to surge upward again once US domestic scrap prices settle for the month—demand for imports continues to trend tepid. Nevertheless, import rebar prices continue to rise along with the global trend upward, lifting offers from Turkey and Mexico by $0.50 cwt. ($11/mt or $10/nt) in the last two weeks.
US import rebar offers from Turkey are now ranging from $33.50-$34.50 cwt. ($739-$761/mt or $670-$690/mt) DDP loaded truck at US Gulf ports, while offers from Mexico are now in the range of $32.50-$33.50 cwt. ($717-$739/mt or $650-$670/nt) DDP Houston. Sources tell SteelOrbis that position availability is “nearly nonexistent,” exemplified by US import data showing only 25,390 mt in rebar import permits for the whole month of December, compared to 66,845 mt in preliminary census totals for November.