Sources tell SteelOrbis that global rebar prices are still on an uptrend, but higher prices have not been reflected in offers to the US. Overall demand for imported rebar remains tepid, and sources say there is even a possibility of slightly lower offers being heard because US-based traders are competing against themselves more than they’re competing with US domestic mills.
So far, US import rebar offer prices are unchanged week-on-week, with offers from Egypt still at $39.00-$40.00 cwt. ($860-$882/mt or $780-$800/nt) DDP loaded truck in US Gulf ports. Offers from Mexico are also stable at $40.00-$41.00 cwt. ($882-$904/mt or $800-$820/nt) DDP Houston. Further, sources confirm that while Algeria is still not offering to the US, offers from the country could resume in the next month or so.