After months of dwindling downward, US import rebar offers are finally firming up, sources tell SteelOrbis. Higher global scrap prices are supporting higher price points for import rebar, and although demand is seasonally tepid, sources say importers are in a “decent position” to push for higher prices with their buyers, especially after one US rebar mill announced a $1.50 cwt. ($33/mt or $30/nt) price increase this week and others are expected to follow.
US import rebar offers are now at $29.50-$30.50 cwt. ($650-$672/mt or $590-$610/nt) DDP loaded truck at US Gulf ports from Spain, reflecting a $0.50 cwt. ($11/mt or $10/nt) increase in the last week. Offers from Mexico are now at $29.50-$30.00 cwt. ($650-$661/mt or $590-$600/nt) DDP Houston, also up $0.50 cwt. week-on-week. Meanwhile, sources tell SteelOrbis that import rebar offers from Turkey are now at a minimum of $29.00 cwt. ($640/mt or $580/nt) DDP loaded truck at the port, up $1.00 cwt. ($22/mt or $20/nt) since last week.