Although market activity in the US import rebar market is still expected to trend steady throughout the rest of the quarter, sources tell SteelOrbis that Turkish mills are eager for US orders, and as a result import offers have become more flexible.
Already, the low end of the Turkish rebar offer range has eroded by about $0.50 cwt. ($10/nt or $11/mt), bringing offers for imported rebar in the US domestic market from Turkey down to $28.50-$29.50 cwt. ($570-$590/nt or $628-$650/mt) DDP loaded truck in US Gulf ports. Additionally, sources report that Brazilian rebar offers to the US have dropped about $25/mt FOB Brazilian mill in the last few weeks, although offer prices in the US are still higher than Turkish offers.