US import rebar prices lift slightly

Tuesday, 12 February 2019 00:13:10 (GMT+3)   |   San Diego
       

Ordering activity within the US import rebar market is still relatively stable, with buyers continuing to order cautiously in case “drastic changes come out of nowhere,” including changes to the Section 232 tariffs. Sources tell SteelOrbis that import rebar offer to the US have lifted slightly from European sources, although higher offers are competing with a surge of already-arrived material at the ports.

According to delayed US steel import data, there were 102,492 mt of rebar import permits in January, compared to only 56,274 mt in December. Buying prices for these positions are reportedly “not far off” from future arrival offers, although deals could soon appear if the positions don’t move as quickly as anticipated.

Additionally, more competition in the US import rebar market could make it hard for long-term sources to firm up prices. The January import license data show significant arrivals from outlier countries like Bulgaria (15,466 mt), Vietnam (14,795 mt), and South Africa (10,283 mt). Sources tell SteelOrbis that when those tonnages were ordered, prices from Bulgaria were roughly $15/mt lower than European offers, while rebar from Vietnam was about $20-$25/mt lower.

Source say they are currently waiting for updated offers from those two countries, and in the meantime, offers from Europe are up $10/mt week-on-week. US import rebar offers from Italy and Spain are now roughly $34.50 cwt. ($761/mt or $690/nt) DDP loaded truck at US Gulf ports.


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