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Imported rebar prices pressure Southeastern US rebar market lower
DateTime: 2015-8-10 14:54:24    

Southeastern US rebar buyers have pushed domestic mills to make price concessions as imported rebar from Turkey pressures the market, market sources said this week.

The Platts daily rebar price assessment dropped to $550-$565/st ex-works Friday, from $550-$570/st Thursday.

One Southeastern distributor said Friday that "all mills have adjusted pricing downward."

Some of the deals are specific to 20-foot rebar, which are intended to fend off imports. The distributor said rebar prices have fallen to $560/st ex-works, down from $570/st ex-works two weeks ago.

He added that import offers for October arrival in Houston have fallen below $440/st on a loaded-truck basis.

The Platts daily rebar import price assessment also decreased to $385-$390/st ($424-$430/mt) CIF Houston, reflecting lower transactions and offers for Turkish rebar due to arrive in October.

A Florida-based rebar distributor said his domestic buying price has fallen below $500/st ex-works for limited quantities, even though mill inventories have tightened. The distributor said he pleaded with a mill supplier to lower prices to be more competitive.

"I can't sell domestic rebar at the price you're wanting," he said he told a mill representative. "They obviously had to make some concessions to adjust for the imports that are coming in."

The second distributor said most of the imported rebar is used in Florida and doesn't make it into other Southeastern states as much. The distributor said imported rebar can be picked up at a nearby port now for $470/st loaded truck, but offers for October arrival are closer to $420/st loaded truck.

Other market sources this week have indicated prices at $545-$565/st ex-works. A Southeastern fabricator said he's buying spot tons at $550/st ex-works, though he has a foreign fighter program to buy cheaper rebar.

Another fabricator said spot prices from three mills fell in the $545-$565/st ex-works range, and a mill pegged Southeastern US rebar prices at $560/st ex-works.

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