US import rebar offer prices are up again week-on-week, but with most US rebar buyers continuing to turn to the domestic market for material, import interest and booking activity remains weak. Sources tell SteelOrbis that even with slightly lower quotations, buyers are unwilling to commit to the large tonnage necessary for import orders. Other sources note that the situation is likely to change as soon as US domestic rebar prices start climbing again after months of stagnation, but for now, importers continue to report putting out offers that aren’t accepted.
US import rebar offers from Algeria are up another $0.50 cwt. ($11/mt or $10/nt) week-on-week, now in the range of $44.00-$45.00 cwt. ($970-$992/mt or $880-$900/nt) DDP loaded truck in US Gulf ports. Offers from Mexico, meanwhile, are also up week-on-week, by $1.00 cwt. ($22/mt or $20/nt), bringing prices into the range of $46.50-$47.50 cwt. ($1,025-$1,047/mt or $930-$950/nt) DDP Houston, which is getting very close to current US domestic rebar prices.
Offers from Turkey, meanwhile, are still on hold as mills in the country work on reopening after the devastating earthquake earlier this month.