After a short period of stability, US import rebar offers are dwindling downward again, as demand still lags behind expectations for the fall market. Some foreign markets are also becoming more aggressive for orders, which has resulted in US buyers taking a serious look at import offers.
This week, US import rebar offers from Algeria and Egypt are trending at $36.00-$37.00 cwt. ($794-$816/mt or $720-$740/nt) DDP loaded truck in US Gulf ports, compared to $37.00-$38.00 cwt. ($816-$838/mt or $740-$760/nt) DDP loaded truck in US Gulf ports.
Additionally, as Mexican domestic rebar prices have softened, exporters have been allowed to offer lower prices as well, bringing the import offer price down to $38.00-$39.00 cwt. ($838-$860/mt or $$760-$780/nt) DDP Houston, compared to $40.00-$41.00 cwt. ($882-$904/mt or $800-$820/nt) DDP Houston last week.