US import rebar market chugs along amid tepid demand

Wednesday, 24 January 2024 22:53:46 (GMT+3)   |   San Diego
       

With global rebar prices still trending strong, interest in US import rebar remains low. Inquiry activity for future arrivals is tepid, and current arrival levels are so low that sources report few positions available. According to US import permit data, there have been no recorded rebar imports arriving from Egypt and Algeria in December and so far in January (as of Jan. 16), allowing Mexico to take the top spot.

Sources tell SteelOrbis that demand levels for import rebar are not likely to change in the near or long-term, barring a “black swan” event that causes domestic rebar prices to spike. At SteelOrbis’ 15th Annual Rebar & Wire Rod Conference this week, experts on the panel agreed that overall import market share, which used to reach 25 percent only a few years ago, will probably hover in the low 20 percent range or slightly under for the foreseeable future.

This week, US import rebar offers are again unchanged, but importers say pricing pressure could lead to slightly higher prices soon. As such, US import offers from Egypt are still at $39.00-$40.00 cwt. ($860-$882/mt or $780-$800/nt) DDP loaded truck in US Gulf ports, while Mexican offers are still at $40.00-$41.00 cwt. ($882-$904/mt or $800-$820/nt) DDP Houston.


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