Buoyed by rising scrap prices in international markets, import rebar offers to the US have seen an uptick in the last week. And now that uncertainty regarding damages from Hurricane Harvey has mostly eased, sources tell SteelOrbis that buyers are ready to return to the market and book for future arrival.
Offers for imported rebar in the US domestic market from Turkey are now in the range of $28.50-$29.50 cwt. ($570-$590/nt or $628-$650/mt) DDP loaded truck in US Gulf ports, indicating a $1.25 cwt. ($25/nt or $28/mt) increase since our last report a week ago. However, traders point out that the increase is more reflective of sales prices catching up to previous offers than to a huge jump in new offers from Turkish mills.