As reported last week, a surge in US import rebar arrivals to the US is not having much influence on future order prices, but other market factors have resulted in a price increase week-on-week. Turkey’s focus on rebar exports, combined with rising global scrap prices and uptrending US domestic rebar prices have supported a $1.00 cwt. ($22/mt or $20/nt) increase in US import rebar offers from Turkey. The new offer range is $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt) DDP loaded truck in US Gulf ports.
Offers from Mexico are also higher week-on-week, rising $0.50 cwt. ($11/mt or $10/nt) to $38.00-$39.00 cwt. ($838-$860/mt or $760-$780/nt) DDP Houston. Sources tell SteelOrbis that current market trends are not expected to abate anytime soon, and further small upticks in US import rebar offers is to be expected.