The gradual uptrend in Turkish rebar import offers to the US has continued this week, attributed in part to rising scrap prices but also the sharp uptrend in the US domestic rebar market. Traders tell SteelOrbis that offers are up about $0.75 cwt. ($15/nt or $17/mt) since last week, and as such, imported rebar in the US domestic market from Turkey is now being sold in the range of $22.25-$23.25 cwt. ($445-$465/nt or $491-$513/mt) DDP loaded truck in US Gulf ports.
Sources also tell SteelOrbis that positions are still available, and the arrival trend is pointing at an influx of Turkish rebar for the remainder of the month. According to the latest US import license data for the month (as of Nov. 8), rebar imports from Turkey have already totaled 49,765 mt, compared to 83,308 mt for the whole month of October.