As predicted, US import rebar offers have softened this week after a “breather” last week, with offers from Turkey down $1.00 cwt. ($22/mt or $20/nt) into the range of $44.00-$45.00 cwt. ($970-$992/mt or $880-$900/nt) DDP loaded truck in US Gulf ports. Reports of a large cargo sold this week below that range are for now unconfirmed, but sources tell SteelOrbis that interest in imports is gradually picking up as the spread between import and domestic rebar offers continues to widen.
Offers from Mexico are also down this week, by about $0.50 cwt. ($11/mt or $10/nt), into the range of $45.50-$47.50 cwt. ($1,003-$1,047/mt or $910-$950/nt) DDP Houston. Sources say most material delivered from Mexico is staying within the general Gulf of Mexico region, due to rebuilding efforts from recent storms.