Although there had previously been ample availability of already-arrived import rebar at US ports, tonnage levels are starting to decline. According to the latest US steel import data, import rebar permits for November have only reached 13,273 mt as of Nov. 13, compared to 55,879 mt of import rebar permits in October. The absence of any permits from Italy has affected the November totals the most, along with a severe cut in Turkish rebar arrivals, with only 21 mt in import permits so far this month after Section 232 tariffs on Turkish steel were increased to 50 percent in August.
Despite dwindling import rebar arrivals, offer prices for future arrival have remained relatively steady. Import rebar offers in the US market from Italy and Spain are still around $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt) DDP loaded truck at US Gulf ports, while most prices for currently available inventory at the ports from the same countries remain around $36.00-$37.00 cwt. ($794-$816/mt or $720-$740/nt) DDP loaded truck in the Gulf.