Interest in booking import rebar has increased in the last week, although prices continue to follow their long-term gradual downtrend. Most offers are down this week to varying degrees, and sources tell SteelOrbis that offers are expected to continue dropping, although actual buying activity is predicted to dwindle once the holiday season commences later this month.
This week, US import rebar offers from Algeria are down another $0.50 cwt. ($11/mt or $10/nt), bringing the average offer range to $40.50-$41.50 cwt. ($893-$915/mt or $810-$830/nt) DDP loaded truck in US Gulf ports. Offers from Turkey are also down $0.50 cwt., now ranging from $41.50-$42.50 cwt. ($915-$937/mt or $830-$850/nt) DDP loaded truck in US Gulf ports. Offers from Mexico, meanwhile, are down $1.00 cwt. ($22/mt or $20/nt), now in the range of $44.00-$45.00 cwt. ($970-$992/mt or $880-$900/nt) DDP Houston.