As reported last week, US import rebar offers are on a downtrend due to international prices, although demand remains tepid. Sources expect inquiry activity to pick up soon now that most in the US market have returned from the holidays with an eye on the spring construction season, but some mention that import offers will have to dip a bit further to be considered competitive against US domestic prices.
This week, US import rebar offers from Egypt are down $1.00 cwt. ($22/mt or $20/nt), into the range of $39.00-$40.00 cwt. ($860-$882/mt or $780-$800/nt) DDP loaded truck in US Gulf ports. Meanwhile, offers from Mexico are still being heard at around $40.00-$41.00 cwt. ($882-$904/mt or $800-$820/nt) DDP Houston, although sources say they expect lower offers “imminently.”