After US import rebar offers from Spain increased in our last report a week ago, prices have leveled out this week. Rebar offers from Spain remain around the level of $35.00 cwt. ($772/mt or $700/nt) DDP loaded truck at US Gulf ports, while rebar offers to the US from Italy remain around $34.50 cwt. ($761/mt or $690/nt) DDP loaded truck at US Gulf ports.
Sources tell SteelOrbis that inquiry activity is also stable this week, as “so much is up in the air” regarding tariffs and trade negotiations. However, new sources for US import rebar are continuing to crop up in the market. The latest US steel import data now show 24,366 mt of rebar import permits so far in March (as of March 19) from Portugal, along with 15,870 mt from Bulgaria, and 9,683 mt from Dominican Republic.