Inquiry activity within the US import rebar market has not yet resumed to regular levels after the holidays, but by next week, many sources expect to see a bump in import offer prices. Rising scrap prices in the US and abroad will inevitably lead to higher finished steel prices, sources say, and buyers are expected to stock up before prices rise further. Other factors in the US rebar market, such as the recent sale of several of Gerdau’s US rebar assets to CMC, are expected to push US rebar prices higher, paving the way for higher import offers as well.
For now, rebar offers to the US continue to remain stable but firm. Offers for imported rebar in the US domestic market from Turkey are still in the range of $29.00-$30.00 cwt. ($580-$600/nt or $639-$661/mt) DDP loaded truck in US Gulf ports, with offers from Brazil heard around the same range.