Many buyers in the US import rebar market are still “ordering with caution” due to the continued uncertainty in the market, but prices have leveled out this week with no major changes. US import rebar offers from Italy and Spain are still being heard as low as $34.00 cwt. ($750/mt or $680/nt) DDP loaded truck at US Gulf ports.
As for rumors last week of considerably lower offers from Turkey that still managed to include the 50 percent Section 232 tariffs, those offers might no longer be on the table, if they were serious offers to begin with. Reports from Turkey indicate an increase in rebar export prices in the last week, and while sources still believe Turkish mills are “desperate” enough to undercut European offers, few have heard of actual transactions taking place.