Although buying activity within the US import rebar market is still relatively slow, lower offers have been heard in the market. Sources tell SteelOrbis that the price trend is still pointing definitively down, although some are starting to speculate about prices bouncing back a bit in the New Year—if so, sources say the next few weeks might be “the last best time to book import this year.”
US import rebar offers from Algeria and Turkey are both down $1.00 cwt. ($22/mt or $20/nt) this week, compared to our last report two weeks ago. Offers from Algeria are now at $39.50-$40.50 cwt. ($871-$893/mt or $790-$810/nt) DDP loaded truck in US Gulf ports, while offers from Turkey are now at $40.50-$41.50 cwt. ($893-$915/mt or $810-$830/nt) DDP loaded truck in US Gulf ports. Offers from Mexico, meanwhile, are down $1.50 cwt. ($33/mt or $30/nt) since our last report, with prices now ranging from $42.50-$43.50 cwt. ($$937-$959/mt or $$850-$870/nt) DDP Houston.