Interest in US import rebar offers remains tepid, and a shortage of transactions has left offer prices stable week-on-week. US import rebar offers from Spain, Bulgaria and Portugal are still around the level of $30.00 cwt. ($661/mt or $600/nt) DDP loaded truck at US Gulf ports, and Algeria and Mexico are still in the range of $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 still ranging from $29.50-$30.00 cwt. ($650-$661/mt or $590-$600/nt) DDP loaded truck at US Gulf ports, and sources say they are awaiting further information about a possible agreement to switch Turkey’s Section 232 tariffs to a quota system. Even if volume was restricted, sources say the elimination of the current 25 percent tariff would give Turkish mills “an enormous advantage” in the US import rebar market, although it is unclear if much lower prices would have an effect on demand.