While offer prices for US import rebar have not changed in the last week, sources tell SteelOrbis that offers are “very soft” and likely to drop by small amounts in the near-term. Overall uncertainty in the market and the expectation of soft US domestic rebar prices this month have resulted in heightened hesitancy to book imports.
US import rebar offers from Spain are still around $30.50 cwt. ($672/mt or $610/nt) DDP loaded truck at US Gulf ports, offers from Bulgaria and Portugal are around $31.50 cwt. ($694/mt or $630/nt) DDP loaded truck at US Gulf ports, and offers from Mexico are around $30.00 cwt. ($661/mt or $600/nt) delivered to Houston.
Additionally, offers from Algeria are stable at around $30.00 cwt. ($661/mt or $600/nt) DDP loaded truck at US Gulf ports, and offers from Turkey are still in the range of $30.50-$31.00 cwt. ($672-$683/mt or $610-$620/nt) DDP loaded truck at US Gulf ports.