Although sources tell SteelOrbis that there is “considerable” uncertainty in the US import rebar market, offer prices have remained steady week-on-week, and demand is reported to be decent, but not robust. Import buyers say they are still awaiting direction on the Section 232 situation, and the likelihood of tariffs being exchanged for quotas from major trading partners like Canada, Mexico and the EU. If a quota system is implemented, buyers say they would rather order for shipments that would arrive before the end of the year; import rebar arrivals are down this year compared to previous years, meaning a quota resembling the one in place for Brazil and Argentina would likely not be filled yet. However, the timeframe for that possibility is closing with lead times at 6-8 weeks from Europe.
Currently, import rebar offers in the US market from Italy and Spain are still around $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt) DDP loaded truck at US Gulf ports, while prices for currently available inventory at the ports from the same countries remain around $36.00-$37.00 cwt. ($794-$816/mt or $720-$740/nt) DDP loaded truck in the Gulf, and about $1.00 cwt. ($22/mt or $20/nt) higher on the East coast.