US import rebar prices dip, while domestic offers level out

US mill rebar pricing momentum has leveled out since last week, trending neutral in response to bad weather conditions and continuous weak demand.

Most domestic rebar offers have remained in the range of approximately $27.00 cwt. to $27.50 cwt. ($595/mt to $606/mt or $540/nt to $550/nt) ex-mill, although some affiliated fabricators and large buyers may be getting slightly under this range. After a relatively good January, rebar demand quieted down once again perhaps temporarily due to harsh winter weather.

As reported on SteelOrbis this week, Nucor Bar Mill Group announced a slight decrease in the raw materials surcharge (RMS) from the previous month, which was offset by an increase in the base prices. This means that the leading rebar producer in the US is intending the keep prices stable throughout March. Since there isn’t a large change expected in scrap prices into March, and the demand is not expected to increase dramatically, rebar prices could stay stable until the end of April.

Developments were not all positive for the import supply. Current import rebar offers decreased slightly from last week, by about $0.50 cwt. ($11/mt or $10/nt), with Mexican offers now ranging from $25.50 cwt. to $26.50 cwt. ($562/mt to $584/mt or $510/nt to $530/nt) delivered to US border states. Meanwhile, Turkish offers for April arrivals have also gone down by $0.50 cwt ($11/mt or $10/nt) to $25.50 cwt. to $26.50 cwt. ($562/mt to $584/mt or $510/nt to $530/nt) duty paid loaded truck in US Gulf ports.