Import rebar interest in the US remains tepid, and sources say that as long as import offers keep rising, buyers in the US will continue to have little incentive to get their material from somewhere other than domestic mills.
This week, US import rebar offers from Algeria are up $0.50 cwt. ($11/mt or $10/nt) week-on-week, now in the range of $43.50-$44.50 cwt. ($959-$981/mt or $870-$890/nt) DDP loaded truck in US Gulf ports. Some higher offers have also been heard from Mexico, but the general range is stable this week at $45.50-$46.50 cwt. ($1,003-$1,025/mt or $910-$930/nt) DDP Houston.
As for Turkey, sources say that buyers should expect Turkey to remain out of the US import rebar market for the short-term as the country deals with the effects of last week’s devasting earthquake. Rebar production is currently on hold, but sources in Turkey believe some mills could restart within a few weeks.