The global downturn in scrap prices, particularly in Turkey, has resulted in lower US import rebar offers from the country this week. Offers from Mexico have also declined, but not by as much, and sources predict more gradual downticks in offer prices in the near term.
US import rebar offers from Turkey are now in the range of $32.50-$33.50 cwt. ($717-$739/mt or $650-$670/nt) DDP loaded truck at US Gulf ports, down $1.00 cwt. ($22/mt or $20/nt) in the last week. Import offers from Mexico, meanwhile, are down $0.25 cwt. ($5.50/mt or $5/nt) in the last week, bringing offers into the range of $32.75-$33.75 cwt. ($722-$744/mt or $655-$675/nt) DDP Houston.