Although there has not been a noticeable shift in demand for US import rebar, sources tell SteelOrbis that offer prices have shifted downward somewhat for future orders, although prices for already-arrived material at US ports is more or less stable from last week.
Import rebar offers in the US market from Italy and Spain are now around $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt) DDP loaded truck at US Gulf ports, reflecting a decrease of $0.50 cwt. ($11/mt or $10/nt) in the last week. Prices for currently available inventory at the ports from the same countries remain around $36.00-$37.00 cwt. ($794-$816/mt or $720-$740/nt) DDP loaded truck in the Gulf, and about $1.00 cwt. ($22/mt or $20/nt) higher on the East coast.
Sources tell SteelOrbis that they were hoping Section 232 tariffs would have been addressed in the new trade agreement that will replace NAFTA, particularly the tariffs against Mexico, which sources say is in “no way” a national security threat to the US. While import rebar levels from Mexico have improved over the last few months, despite the tariffs, sources say they would like to see Mexican rebar back on a “competitive level” with US domestic material.