Posted on 30 May 2019
US rebar pricing from Turkey into the US appears to be holding pat, and the market as a whole is entering a wait-and-see period, Kallanish hears from market sources.
One buy-side source says $680/short ton cfr “... was the latest, and there’s nothing new to report as of yet – we’ll see how the week unfolds, but it looks like the bleeding on scrap has ceased for now and is stabilising.”
He adds that downward pressure on the market as a whole remains, primarily due to the relaxation of Turkish import duties.
“I do believe that there is downward pressure on US pricing, regardless of what anyone says, as a result of the Turkish tariffs being reduced from 50% to 25%.”
Kallanish currently puts #4 rebar in 20-foot sticks at $680-690/st. Prices are updated each Tuesday.
