Continuing the trend of slight downticks followed by periods of stability, US import rebar offers have once again stayed level after a modest decrease last week. Offers from Turkey are still ranging from $44.00-$45.00 cwt. ($970-$992/mt or $880-$900/nt) DDP loaded truck in US Gulf ports, while offers from Mexico are still at $45.50-$47.50 cwt. ($1,003-$1,047/mt or $910-$950/nt) DDP Houston.
With indications that US domestic scrap prices might rise this month, which would keep US domestic rebar spot prices firm at the very least, sources tell SteelOrbis that interest in rebar imports will only continue to rise. Although some buyers might be reluctant to bring in material before the end of the year and the traditionally slower construction season in winter, the deals might be “too good to pass up, considering domestic levels,” one source said.