As US import rebar buyers continue keeping an eye on the domestic rebar market for direction, inquiry and ordering activity is reportedly stable but not exactly robust. With expectations of a possible US scrap price decrease next month, sources are wondering whether US domestic rebar prices are currently at their peak, and if so, what spot prices might look like when current orders for import rebar eventually arrive.
Although the margin between US import and domestic rebar still “too close for comfort,” some sources believe that if domestic rebar prices start to fall, it will be a slow downward drift and not a crash, so ordering imports now might not be much of a gamble. One source said import offers could even start to dip slightly in the near future, which would likely spur more buyers who are currently on the fence.
For now, US import rebar offers are unchanged week-on-week, with offers from both Turkey and Mexico ranging from $47.00-$50.00 cwt. ($1,036-$1,102/mt or $940-$1,000/nt), DDP loaded truck in US Gulf ports and DDP Houston, respectively.