Booking activity within the US import rebar market continues to trend slow as interest in imported material remains tepid. As such, importers tell SteelOrbis that offer prices are “relatively neutral” this week, although further increases are expected.
Sources say it will be easier to raise offers on import rebar to US clients as soon as US domestic prices start to rise, although there is no guarantee of the US market trending upward in the near-term, only speculation.
As such, US import rebar offers from Algeria are still ranging from $44.00-$45.00 cwt. ($970-$992/mt or $880-$900/nt) DDP loaded truck in US Gulf ports. Offers from Mexico are also unchanged week-on-week at $46.50-$47.50 cwt. ($1,025-$1,047/mt or $930-$950/nt) DDP Houston.
Turkish rebar offers, meanwhile, are still relatively on hold—as Turkish mills focus on supplying their domestic market in the aftermath of the earthquake last month, export offers are being released but at prices too high for interest at the moment.