US rebar import prices tick higher on limited supply

Prices for imported steel reinforcing bar have ticked higher in the United States because cheap Turkish rebar is limited and European exporters are hesitant to compete with Turkey on pricing, market participants said.

Prices for rebar from Turkey range from $750-770 per tonne cfr, according to US traders, while only one trader said material was still available at prices of $745 per tonne cfr – the level at which the most recent rebar cargoes were concluded.
These $745-per-tonne sales likely went to only two US rebar traders, and few Turkish mills are still willing to offer material at that price, market participants said.
As for $750 and $760 per tonne cfr, “nothing has been booked at that level,” one rebar trader said.

“I see a reduction of import volume coming in,” he said, noting that Italian exporters have backed away from the...

Published

Nat Rudarakanchana

June 21, 2018

19:19 GMT

New York