Once again, US import rebar offers have dropped week-on-week, but sources tell SteelOrbis that few if any bookings are taking place, even at low levels. The lack of interest is attributed to the downtrending US domestic rebar market, and sources say import interest might not return until US rebar prices find a floor.
This week, US import rebar offers from Algeria are down another $0.50 cwt. ($11/mt or $10/nt), now ranging from $39.00-$40.00 cwt. ($860-$882/mt or $780-$800/nt) DDP loaded truck in US Gulf ports. Offers from Mexico are also down $0.50 cwt., to $42.00-$43.00 cwt. ($926-$948/mt or $840-$860/nt) DDP Houston.