Buying activity within the US import rebar market has not picked up quite yet, but sources say inquiry activity is high as buyers “feel out” the latest offers before committing to Q1 arrival orders. Offers from some sources are down week-on-week while others are stable, but the overall trend is still “decidedly down.”
US import rebar offers from Algeria are now being heard at $41.50-$42.50 cwt. ($915-$937/mt or $830-$850/nt) DDP loaded truck in US Gulf ports, down $1.00 cwt. ($22/mt or $20/nt) from last week. Turkish offers are also lower, now being heard at $42.00-$43.00 cwt. ($926-$948/mt or $840-$860/nt) DDP loaded truck in US Gulf ports, also down $1.00 cwt. ($22/mt or $20/nt).
Offers from Mexico, meanwhile, are relatively stable at $45.00-$46.00 cwt. ($992-$1,014/mt or $900-$920/nt) DDP Houston, although sources said Mexican offers “are not done dropping.”