When the decision to cut the previously doubled tariffs in half
was announced in late May, sources anticipated a quick resumption of Turkish steel exports to the US that would likely act as a headwind for domestic steel prices.
More than two months later, those predictions have not come to pass, with only 187.6 tonnes of Turkish rebar licensed for US import in June and zero tonnes licensed for import in July, according to data
from the US Department of Commerce’s Enforcement and Compliance division, last updated on Wednesday July 24.
“We still really haven’t seen Turkey come back into the market, which is blowing my mind,” a southeastern US rebar consumer said.
So what’s holding back US buyers from purchasing Turkish rebar? Prices and politics, according to market participants based in the United States.
The downtrend in US rebar prices has yet...