Demand levels have not changed in the last week for the US import rebar market, but softer global scrap prices have allowed import offers to soften slightly. Still, with the expectation that offers will continue to dwindle downward, buyers are holding off on orders for the most part.
US import rebar offers from Spain, Bulgaria and Portugal are now ranging from $29.50-$30.00 cwt. ($650-$661/mt or $590-$600/nt) DDP loaded truck at US Gulf ports, dropping by $0.50 cwt. ($11/mt or $10/nt) on the low end, while offers from Algeria and Mexico are still closer to $29.50 cwt. ($650/mt or $590/nt) DDP loaded truck at US Gulf ports and delivered to Houston, respectively. Meanwhile, offers from Turkey are now heard from $29.00-$30.00 cwt. ($639-$661/mt or $580-$600/nt) DDP loaded truck at US Gulf ports, reflecting a drop of $0.50 cwt. ($11/mt or $10/nt) on the low end.