After yet another price increase announced for US domestic rebar, import rebar offers are continuing to mirror the uptrend with higher offer prices. However, while demand for import rebar remains tepid, some sources think US domestic rebar prices may have peaked, which means buyers might feel more comfortable ordering offshore products in the near-term, especially if the expected downtrend in domestic prices isn’t “terribly swift.”
This week, US import rebar offers from Turkey are up another $0.50 cwt. ($11/mt or $10/nt) from last week, bringing offers into the range of $34.00-$35.00 cwt. ($750-$772/mt or $680-$700/nt) DDP loaded truck at US Gulf ports. Offers from Mexico are also up $0.50 cwt., now ranging from $33.00-$34.00 cwt. ($728-$750/mt or $660-$680/nt) DDP Houston.