The price of imported rebar declines in America this week. Earlier this week, price of Turkey resource rebar got kind of fall in American rebar market, but the price did not fall below $600/ton.
Some market participants said that future Turkish resources offer may fall further under the influence of declining scrap steel prices, which fell by 1-2 dollars/ton last week. Currently, though steel
mills are reluctant to accept deals below $600/ton, traders’ inquiry price still remains at only $595/ton
Due to the high rebar inventories, the import trading volume is less. In addition, the port price of Inbesa Port inventory is only $590-600/ton, lower than Turkish offer. Therefore, traders are still waiting for the price falling of Turkey resources offers.
Affected by Turkish rebar anti-dumping case, the total quantity of imported rebar permitted by the United States in April is about 87,800 tons, falling 51200 tons compared with March. Among which Turkey resources account for 42100 tons, falling from 64000 tons in March. On Tuesday, rebar price declined by $2.5/ton, to $545-555/ton, or $600-610/ton including taxes.
Meanwhile, rebar prices continue to maintain smooth in Europe. Under the pressure of weak market demand and imported resources from Spain and Italy, French price is facing a downward trend. This week, French rebar was quoted at 220 Euros/ton.