Offer prices for US import rebar from Turkey have increased again week-on-week, but sources tell SteelOrbis the uptrend has not had much of an impact on buying activity since prices are not currently the main deciding factor in ordering import material. Uncertainty about where the US rebar market will be in Q4 continues to keep buyers hesitant, and some predict the recent surge in US domestic rebar prices “isn’t a long-term situation.” So while the gap between import and domestic rebar prices is still rather wide, it’s not enough to boost import orders.
US import rebar offers from Turkey are now at $28.00-$29.00 cwt. ($617-$639/mt or $560-$580/nt) DDP loaded truck at US Gulf ports, reflecting a $0.50 cwt. ($11/mt or $10/nt) increase in the last week. Offers from Mexico, meanwhile, have not changed at $27.50-$28.50 cwt. ($606-$628/mt or $550-$570/nt) DDP Houston, although sources fewer quotes are being offered for the lower end of the range, indicating Mexican offers could shift upward again soon.