Although US import rebar offers declined slightly over the last two weeks, sources tell SteelOrbis that demand for import rebar is still weak, in light of an overall seasonal demand slowdown in the US. However, with indications that US domestic rebar prices could stabilize after US Midwest scrap prices trended sideways to slightly down this month, interest in rebar imports could pick up closer to the end of the summer.
This week, US import rebar offers from Algeria have been heard at $38.00-$39.00 cwt. ($838-$860/mt or $760-$780/nt) DDP loaded truck in US Gulf ports, compared to $39.00-$40.00 cwt. ($860-$882/mt or $780-$800/nt) DDP loaded truck in US Gulf ports two weeks ago. Mexican rebar offers, meanwhile, are now at $41.50-$42.50 cwt. ($915-$937/mt or $830-$850/nt) DDP Houston, compared to $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt) DDP Houston two weeks ago.