US import rebar price falls further, domestic prices flat

Prices for imported steel reinforcing bar in the United States have continued to decline amid reports of confirmed material purchases from Spain, Turkey and Algeria, with the domestic market steady.

Fastmarkets assessed steel rebar, import, cfr Houston, at $580-590 per short ton on Wednesday August 21, down by 2.5% from $590-610 per short ton two weeks earlier. Prices for imported rebar have been trending downward since reaching a nearly 12-month high of $685-700 per short ton cfr on April 17 of this year.  Fastmarkets assessed steel rebar, fob mill US, at $31.50-32.50 per hundredweight ($630-650 per ton) on August 21, unchanged since July 17 when the price descended to pre-Section 232 levels.  Import picture Offers from foreign mills have continued to get more aggressive, sources told Fastmarkets.  A 15,000-tonne Turkish cargo was booked at $640 per tonne cfr, equivalent to $580 per ton cfr, for delivery into Florida and Texas ports, one trader source said. This was confirmed by second trader, who also said cargoes from Spain and...

Published

Patrick Fitzgerald

August 22, 2019

21:57 GMT

New York