US import rebar offers have continued their modest upward trend, with prices again rising $0.50 cwt. ($11/mt or $10/nt) week-on-week. Sources still attribute the rise to solid demand for rebar in the US and strong global scrap prices, and while further slight upticks are expected, sources do not predict a steep rise in prices in the near-term.
For now, US import rebar offers from Turkey are now in the range of $47.50-$48.50 cwt. ($1,047-$1,069/mt or $950-$970/nt) DDP loaded truck in US Gulf ports, while offers from Mexico are now in the range of $48.50-$50.50 cwt. ($1,069-$1,113/mt or $970-$1,010/nt) DDP Houston.