Sources continue to report softened inquiry activity in the US import rebar market, although offer prices from at least one source have increased due to higher input costs. Import rebar offers to the US from Italy and Spain had been trending in tandem for a while, but sources tell SteelOrbis that offers from Spain are now about $0.50 cwt. ($11/mt or $10/nt) higher than last week, putting prices at the level of $35.00 cwt. ($772/mt or $700/nt) DDP loaded truck at US Gulf ports. Import rebar offers to the US from Italy remain around $34.50 cwt. ($761/mt or $690/nt) DDP loaded truck at US Gulf ports.
While the two European countries continue to be the most significant sources for US import rebar, the latest US steel import data show continuous tonnage from newer, alternative sources, along with a few surprising sources. US rebar import permits from Bulgaria totaled 3,992 mt in February, while South African rebar import permits totaled 9,845 mt, and import permits from Ukraine totaled 5,596 mt. Most surprising, however, is the 2,234 mt in import rebar permits from Turkey, which is still subject to 50 percent Section 232 tariffs.