Foreign distributing companies are trying hard to acquire orders by reducing their asking prices in the wake of shaky demand of rebar on US markets. During previous week, the offers to US mills did not fall but due to decline in freight charges, foreign distributors were forced to cut their asking prices in orders to get better chances of new provision orders.

With the start of new year, the asking prices of foreign distributors stayed stable. It is expected that foreign mills shall not reduce their asking prices anymore. Instead they shall attempt to raise the prices by the end of January 2009 due to the fact that current economy recession is badly impacting their profits.

At the moment, import tariff of rebar is found to be US$540-US$562 per ton with market decline of US$11 per ton as compared to previously. He was of US origin were priced US$670 per ton to US$628 per ton. Low priced the buzzwords imported from Turkey and Mexico. Japanese region rebars are priced competitively higher.