The United States' formerly robust reinforcing bar import market is showing signs of revival, market participants said, with at least one US importer booking some 30,000 tonnes of Turkish rebar recently.
After President Donald Trump levied hard 25% Section 232 tariffs against steel imported from North American free Trade Agreement countries and the European Union, Turkish mills firmed up prices at $745-760 per tonne cfr duty-paid into the US, traders said. One US importer booked 30,000-35,000 tonnes of Turkish rebar, according to multiple sources that were not parties to the deal, with prices estimated at between $745 and $760 per tonne for that cargo. The cargo could not be confirmed with the counterparties but one rebar distributor said it is destined for Port Everglades in Fort Lauderdale, Florida; and Houston. This distributor is currently targeting Turkish rebar prices at $750-755 per tonne cfr, inclusive of the Section 232 tariffs, although he noted that Turkish exporters are offering at $750-760 per tonne. "A wait-and-see...