While the US import rebar market awaits the preliminary AD margins in the case against Turkey, Taiwan and Japan—the US Department of Commerce is expected to release its ruling this week—buyers are largely sitting on the sidelines. However, sources tell SteelOrbis that Turkish mills are still making offers, with prices fluctuating from stable to slightly higher than prices heard last week.
This “fluid” offer situation is not expected to last past the DOC ruling, even though last week’s preliminary CVD ruling against one Turkish mill—Habas, with a 3.47 percent margin—has not had too much of an overall impact on offers. Sources say that has more to do with the pause in demand, and expect the combined preliminary results to set the direction of import rebar offers from Turkey to the US by the end of this week.
Until then, imported rebar in the US domestic market from Turkey is still in the range of $24.75-$25.75 cwt. ($495-$515/nt or $546-$568/mt) DDP loaded truck in US Gulf ports.