After US shredded scrap prices dropped $50/mt this month, prospects for deals within the US domestic rebar market have left imports less attractive than before. Additionally, sources tell SteelOrbis that few rebar buyers in the market are looking to make significant-sized orders, giving another advantage to domestic mills.
However, US import rebar prices have maintained at current levels in the last week, with offers from Algeria and Egypt still around $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt) DDP loaded truck in US Gulf ports, while offers from Mexico are still at $39.00-$40.00 cwt. ($860-$882/mt or $780-$800/nt) DDP Houston.