Strong demand and uptrending domestic prices have resulted in another rise in prices for US import rebar. Offers from Turkey are up $1.00 cwt. ($22/mt or $20/nt) in the last week, bringing prices to $39.50-$40.50 cwt. ($871-$893/mt or $790-$810/nt) DDP loaded truck in US Gulf ports. Offers from Mexico have shown a milder uptrend, with offer prices up $0.50 cwt. ($11/mt or $10/nt) since last week, with offers now ranging from $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt) DDP Houston.
Source tell SteelOrbis that US import rebar offers are primed to continue rising, although not by dramatic amounts. Many in the market are still keeping an eye toward a possible US infrastructure bill—while most infrastructure projects will undoubtedly be subject to “Buy America” provisions, import rebar would still be needed to fulfill private construction demand.