After a short period of stabilization, US import rebar offers have started moving back upward as importers are starting to accept higher price quotes. Previously, buyers were wary of higher import offers when US domestic rebar offers seemed on the verge of dropping, but now that US domestic scrap prices are expected to rise in March, buyers are more willing to follow prices upward.
US import rebar offers from Turkey are now in the range of $35.50-$37.50 cwt. ($783-$827/mt or $710-$750/nt) DDP loaded truck, while offers from Mexico are now in the range of $35.00-$36.00 cwt. ($772-$793/mt or $700-$720/nt) DDP Houston. Sources tell SteelOrbis that offers will likely rise higher in the near-term, although some sources do not foresee offers rising above the $40.00 cwt. ($882/mt or $800/nt) mark.