As rebar prices in the international market follow a rising trend, import offers to the US are now reflecting the uptrend with increased prices this week. Interest is also increasing, as buyers are “fairly certain” that import offers will not get any lower for the rest of the year.
This week, US import offers from Egypt are up $1.50 cwt. ($33/mt or $30/nt), now ranging from $38.00-$39.00 cwt. ($838-$860/mt or $760-$780/nt) DDP loaded truck in US Gulf ports. While offers from Algeria had been trending alongside Egyptian offers for a while, import rebar from Algeria is only up by $0.50 cwt. ($11/mt or $10/nt), now ranging from $37.00-$38.00 cwt. ($816-$838/mt or $740-$760/nt) DDP loaded truck in US Gulf ports.
Offers from Mexico are also up week-on-week, now at $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt) DDP Houston, compared to $37.50-$38.50 cwt. ($827-$849/mt or $750-$770/nt) DDP Houston last week.