After remaining relatively level in the past week due to the holiday break in the US steel market, traders have returned to the import market to find slightly higher import rebar offers from Turkey. New offers for imported rebar in the US domestic market from Turkey are now at a minimum of $38.25 cwt. ($765/nt or $843/mt) DDP loaded truck at US Gulf ports, reflecting an increase of $0.25 cwt. ($5/nt or $5.50/mt).
Sources tell SteelOrbis they don’t expect a surge in Turkish rebar pricing, expecting offers to remain slightly underneath the $40.00 cwt. ($800/nt or $882/mt) price point during the seasonally slower demand that is typical during the summer. With many other import rebar sources still priced out of the market, sources say Turkish mills are primarily focused on maintaining a “healthy market presence” in the US, with offers consistently competitive with US domestic rebar offerings.