The announcement late last week that an agreement had been reached between trade representatives from the US and Mexico, which averted the proposed 5 percent import tariff on Mexican goods set to launch on June 10, has removed some uncertainty within the US import rebar market. And while sources are still awaiting new Mexican rebar offers, offers from other destinations have declined slightly week-on-week.
US import rebar offers from Spain are now at $33.25 cwt. ($733/mt or $665/nt) DDP loaded truck at US Gulf ports, and offers from Bulgaria and Portugal are around $33.75 cwt. ($744/mt or $675/nt) DDP loaded truck at US Gulf ports. Both offers reflect a $0.25 cwt. ($5.50/mt or $5/nt) drop from last week.