While certain outlier deals for US import rebar have become widespread enough to mark a slight decrease in offers, the general trend in the market remains stable. Offers from Mexico are unchanged in the range of $28.00-$29.00 cwt. ($617-$639/mt or $560-$580/nt) DDP Houston. As for import rebar from Turkey, prices are down a slight $0.25 cwt. ($5.50/mt or $5/nt), but sources tell SteelOrbis that has more to do with Turkish market dynamics than demand on the US buyer side. US import rebar offers to Turkey are now in the range of $28.25-$29.25 cwt. ($623-$645/mt or $565-$585/nt) DDP loaded truck at US Gulf ports.
Overall, however, sources note that interest in import rebar seems to be picking up. As buyers do not foresee major shifts in US domestic rebar prices for the remainder of 2020, they are reportedly feeling more open to ordering imports that will still arrive before the end of the year. Already, import rebar permits for the first week of October, totaling 19,053 mt as of Oct. 6, indicate full-month levels will surpass the September import permit total of 36,793 mt. Sources expect November and December import rebar arrivals to far outpace end-of-2019 levels as well.