US import rebar offers have stabilized this week, although sources say they do not expect this reprieve in the overall downtrend to last long. Offers from Turkey have remained firm in the range of $32.50-$33.50 cwt. ($717-$739/mt or $650-$670/nt) DDP loaded truck at US Gulf ports, and offers from Mexico are unchanged week-on-week in the range of $32.75-$33.75 cwt. ($722-$744/mt or $655-$675/nt) DDP Houston.
However, sources tell SteelOrbis that importers are trying to maintain a balance between future arrival offers and already-arrived positions at US ports that were initially ordered at higher prices. According to the latest US import steel data, import permits for rebar in January totaled 81,384 mt, almost double the census data totals of 44,464 mt in December. Though rebar availability at the ports is abundant, inventory is not moving especially fast considering orders for future arrival are now lower.