Sources tell SteelOrbis that US import rebar offers have “likely seen their peak,” with no changes to offers from Mexico but a slight downtick in offers from Turkey week-over-week. Demand for imports is still relatively tepid, and with expectations that US domestic rebar offers have also peaked, potential import buyers are currently considering where prices will be in a couple months before making any major purchases.
Mexican offers, while stable, are still vulnerable to downticks, but for now offers are unchanged week-on-week in the range of $33.00-$34.00 cwt. ($728-$750/mt or $660-$680/nt) DDP Houston. Offers from Turkey, meanwhile, have dropped by $0.50 cwt. ($11/mt or $10/nt) in the last week to $33.50-$34.50 cwt. ($739-$761/mt or $670-$690/nt) DDP loaded truck at US Gulf ports, although sources say that is more of a reflection of the Turkish rebar market rather than the US rebar market.