Sources tell SteelOrbis that US import rebar buying activity is expected to pick up in the next few weeks, “before the holidays get rolling,” in order to have material for Q1. However, for now activity is quiet, even though offer prices continue to drop.
This week, US import rebar offers from Algeria are around $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt) DDP loaded truck in US Gulf ports, down $1.00 cwt. ($22/mt or $20/nt) from last week. Turkish offers, meanwhile, are unchanged at $43.00-$44.00 cwt. ($948-$970/mt or $860-$880/nt) DDP loaded truck in US Gulf ports, but sources say those offers have “room to move lower.”
As for Mexican rebar offers to the US, prices have softened by $1.00 cwt., bringing the range down to $45.00-$46.00 cwt. ($992-$1,014/mt or $900-$920/nt) DDP Houston.