As global factors continue to push up US import rebar prices, interest in booking imports remains low in the US. Domestic rebar prices are not trending up with global prices, and buyers in the US still have decent inventory levels after January proved to be a disappointing month in terms of demand. With some import offers now approaching US domestic rebar prices, sources tell SteelOrbis that interest in imports is “only going to get worse,” at least until demand picks up.
This week, US import rebar offers from Algeria are up $1.00 cwt. ($22/mt or $20/nt) into the range of $43.00-$44.00 cwt. ($948-$970/mt or $860-$880/nt) DDP loaded truck in US Gulf ports. Offers from Mexico are also up $1.50 cwt., now ranging from $45.50-$46.50 cwt. ($1,003-$1,025/mt or $910-$930/nt) DDP Houston. Offers from Turkey, meanwhile, are now being heard at above Mexican offers, rendering them “out of the market” for the moment.