US import rebar offers from Turkey have once again increased slightly week-on-week, but trader sources are quick to point out that Turkish mills are “pushing for more.” Resistance to a stronger uptrend has resulted in a $0.50 cwt. ($10/nt or $11/mt) bump in offer prices in the last week. As such, imported rebar in the US domestic market from Turkey is now being sold in the range of $19.25-$20.25 cwt. ($385-$405/nt or $424-$446/mt) DDP loaded truck in US Gulf ports.
Sources tell SteelOrbis that demand isn’t entirely strong, with most customers preferring to buy what they need and not much more, but not necessarily because they believe prices will come down soon. Further, sources say US-based rebar buyers are generally “not concerned” with the AD/CVD investigation into imported rebar, even though preliminary determinations are due next month.