As seasonal slow demand continues to keep order books relatively light in the US import rebar market, sources say offer prices are “highly negotiable,” although buyers aren’t “rushing out” to book orders. Offers for already-arrived rebar from Turkey in US ports continues to trend around $36.00 cwt. ($794/mt or $720/nt) DDP loaded truck at US Gulf ports, although some offers have been heard over the last week closer to $35.00 cwt. ($772/mt or $700/nt) DDP loaded truck at US Gulf ports.
Meanwhile, the highest-heard offers for future rebar arrivals from Turkey are still approximately $39.00 cwt. ($860/mt or $780/nt) DDP loaded truck at US Gulf ports, although sources say it’s a “buyer’s market” and customers have the leverage to “shop around” for a price point that suits them. Sources predict that softness in US import rebar offers will continue, especially as US domestic rebar prices are starting to become more flexible in light of US scrap price declines this month.