US import rebar offers have climbed again in the last week, following the uptrend in global scrap and rebar markets. However, because offshore orders placed today would not arrive until well into Q1, buyers in the US are still hesitant to place major orders at the moment.
This week, US import rebar offers from Turkey are up another $1.00 cwt. ($22/mt or $20/nt), now ranging from $32.00-$34.00 cwt. ($705-$750/mt or $640-$680/nt) DDP loaded truck at US Gulf ports, which is getting close to the low range of US domestic rebar offers. As for Mexico, offers are up $1.50 cwt. ($33/mt or $30/nt), now ranging from $31.00-$32.00 cwt. ($683-$705/mt or $620-$640/nt) DDP Houston.
Inquiry activity within the US import rebar market is expected to dwindle starting next week ahead of the holidays, but some sources say higher prices are “inevitable anyway.”