With no indication that US domestic rebar mills will budge on pricing after US scrap prices plunged this month, sources tell SteelOrbis that import offers are firming on forecasts of strong demand and high domestic prices going forward.
As such, US import rebar offers from Turkey are now at $46.00-$47.00 cwt. ($1,014-$1,036/mt or $920-$940/nt) DDP loaded truck in US Gulf ports, while offers from Mexico are at $47.00-$49.00 cwt. ($1,036-$1,080/mt or $940-$980/nt) DDP Houston, with both offers reflecting a $1.00 cwt. ($22/mt or $20/nt) increase week-on-week. However, sources say there is not quite a “rush of buying activity” yet, as buyers wait to see if high transportation rates start to come down in the near-term.