US import rebar offers are continuing their steady upward trend, with offers from both Turkey and Mexico rising by $0.50 cwt. ($11/mt or $10/nt) in the last week. Offers from Turkey are now in the range of $41.00-$42.00 cwt. ($904-$926/mt or $820-$840/nt) DDP loaded truck in US Gulf ports, while offers from Mexico are now in the range of $39.50-$40.50 cwt. ($871-$893/mt or $790-$810/nt) DDP Houston.
Considering the similar strong uptrend of US domestic rebar prices, sources tell SteelOrbis that importers are having no issues booking at requested quote levels. While booking activity has not necessarily seen a significant increase, sources point out that hesitation based on uncertainty about where the market will be by the time material arrives in the US has diminished somewhat lately.