REBAR IMPORT PRICES TO THE U.S. EDGE UP

Rebar import prices to the US have edged up in recent days, but traders this week said customers have been unwilling to buy at the new levels.

"Nobody will pay us $18/cwt ($360/st on a loaded truck basis in Houston) when a week and a half ago they paid us $17/cwt ($340/st)," one trader said.

Turkish scrap prices have risen in recent weeks, translating to higher rebar offers. He said current prices are about $350-$360/mt CFR Houston for late January to February arrival, but prices are negotiable.

Buyers are taking the risk of holding off on placing orders, hoping that the scrap price will fall, the trader said. He thinks Turkish scrap prices will be stable in the short term.