No movement has been reported in the US import rebar market, but traders tell SteelOrbis that they are in somewhat of a stalemate with Turkish producers. The low end of the current CFR price range is reportedly unavailable, but many traders are unwilling to book orders on the high end of the range. And while this would technically mean the two sides should meet in the middle, traders say they would rather hold off than pay prices they can’t pass on to customers in the US. As such, the offer range for Turkish rebar is still between $23.00-$24.00 cwt. ($460-$480/nt or $507-$530/mt) DDP loaded truck in US Gulf ports this week.
As for the US domestic market, rumors are still swirling about a possible increase to lift the long-stagnant spot price range of $31.50-$32.50 cwt. ($630-$650/nt or $694-$717/mt) ex-mill, but sources are now saying mills might opt to wait until the summer, so the higher prices can coincide with planned maintenance outages.