Sources tell SteelOrbis that import rebar offers are continuing to trend upward, based on positive sentiment and higher prices in the US domestic rebar market, and also higher raw material costs in Turkey. Although buying activity in the US import rebar market is not quite “robust,” sources say there’s a “decent chance” buyers will reconsider import orders if US domestic prices continue to rise.
As such, US import rebar offers from Turkey are now being heard ranging from $30.00-$31.00 cwt. ($661-$683/mt or $600-$620/nt) DDP loaded truck at US Gulf ports, up $0.75 cwt. ($17/mt or $15/nt) in the last two weeks. Meanwhile, offers from Mexico are also up since our last report two weeks ago, now ranging from $29.50-$30.50 cwt. ($650-$672/mt or $590-$610/nt) DDP Houston, up $0.50 cwt. ($11/mt or $10/nt) in the last week.