Although inquiry activity is reportedly stable within the US import rebar market, sources say offer prices are poised to rise. However, the likely uptrend is not attributed to increased demand for imports, but rather the expectation that prices have already hit bottom and have “nowhere to go but up.” If US domestic rebar prices start to show signs of firming, sources say import offers will follow suit.
For now, offer prices are stable. US import rebar offers from Spain are trending between $33.00-$33.50 cwt. ($728-$739/mt or $660-$670/nt) DDP loaded truck at US Gulf ports, while offers from Bulgaria and Portugal are trending closer to $33.50 cwt. ($739/mt or $670/nt) DDP loaded truck at US Gulf ports. Offers from Turkey, meanwhile, are still around $32.00 cwt. ($705/mt or $640/nt) DDP loaded truck in US Gulf ports.