American rebar importers began canceling some Turkish rebar contracts last week after US President Donald Trump announced that he intends to double tariffs on Turkish steel due to the offensive in Syria, sources told S&P Global on Tuesday. Platts.
The market prices for Turkish rebar in the United States at the time the duties were introduced were USD 580 per tonne delivered (CFR). This corresponds to USD 540 in the ports of the Black or Mediterranean Sea. Those. with certain volume discounts, Ukrainian and European companies will be able to replace Turkish ones in the American market.
According to Platts, European companies sold rebar on Monday for 380 euros per tonne at the port. With 25% duty and shipping included in the US, the CFR price will be approximately € 510 per tonne.
The market reports that it is already receiving inquiries from American buyers for Ukrainian or Italian fittings.
In Ukraine, ArcelorMittal Kryvyi Rih, PJSC is the only manufacturer of rebar and wire rod in the controlled area. In Italy, fittings are also produced at the ArcelorMittal plant in Taranto.
US President Donald Trump on Monday doubled duties on Turkish rolled metal in response to the country's actions in Syria. On Tuesday, he threatened to increase sanctions pressure on Turkey, as it ignored his calls to stop the attack on the Kurds.
