Although there has not been a measurable increase in US import rebar demand, offshore offers are rising on higher energy costs in Europe. Import rebar offers from Turkey are up around $1.50 cwt. ($33/mt or $30/nt) alone week-on-week, bringing them closer to Algerian offers, which are still trending around $45.00-$46.00 cwt. ($992-$1,014/mt or $900-$920/nt) DDP loaded truck in US Gulf ports, although inquiries are taking place at the higher end of the range for now.
Offers from Mexico, meanwhile, are not subject to the same market factors as offshore material, and as such, the slight downtrend in Mexican rebar offers continues. The range has dropped about $1.00 cwt. ($22/mt or $20/nt) in the last week, with offers now approximately $49.00-$50.00 cwt. ($1,080-$1,102/mt or $980-$1,000/nt) DDP Houston. However, some sources say firm bids for Mexican rebar are coming in at slightly below that range.