Resistance to higher import rebar offers has continued over the last week, with indications pointing to a possible drop in offers from Turkey coming soon if orders don’t pick up. For now, imported rebar in the US domestic market from Turkey is still in the range of $24.00-$25.00 cwt. ($480-$500/nt or $529-$550/mt) DDP loaded truck in US Gulf ports—unchanged since last week, although traders tell SteelOrbis that their price ranges are not rigid, with room for flexibility.
According to sources, soft domestic US rebar prices have contributed to the import trend, although rebar positions arriving at US ports are also affecting the market. The latest US import license data show 96,809 mt of rebar import permits recorded so far this month (as of April 18), with 94,477 mt from Turkey alone.