After a brief pause last week, US import rebar offers have again increased by around $0.50 cwt. ($11/mt or $10/nt). Sources say higher prices are supported by steady demand for rebar in the US and less uncertainty about the economic forecast for Q1.
And while import rebar arrivals are expected to accelerate for the remainder of this year—already, US import rebar permits for November (as of Nov. 17) total 56,341 mt, compared to 58,004 mt in permits for the whole month of October—sources do not expect “fierce competition” between available positions and orders for future arrival.
This week, US import rebar offers from Turkey are at $29.25-$30.25 cwt. ($645-$667/mt or $585-$605/nt) DDP loaded truck at US Gulf ports from Turkey, while offers from Mexico are now at $29.00-$30.00 cwt. ($639-$661/mt or $580-$600/nt) DDP Houston from Mexico.