As forecasts for US domestic rebar prices continue to point upward, buyers are finally showing serious interest in the US import rebar market, according to sources, as many expect domestic prices to be higher by the time current import orders arrive in Q1. Import offers are also expected to gradually trend upward, but not at the rate expected of domestics.
This week, US import rebar offers are largely unchanged, although sources tell SteelOrbis that slightly higher prices could filter through the market by next week. For now, offers from Algeria and Egypt are still in the range of $36.50-$37.50 cwt. ($805-$827/mt or $730-$750/nt) DDP loaded truck in US Gulf ports, while offers from Mexico are still at $37.50-$38.50 cwt. ($827-$849/mt or $750-$770/nt) DDP Houston.