The US Commerce Department's preliminary ruling in the rebar imports trade case appeared to be good news for Turkish and Mexican rebar exporters.

There is an increasing likelihood that Russian hot-rolled coil might be sold through Chinese channels in the near term due to the mounting sanctions being imposed on Russian oligarchs and businesses, a trader in Asia told Fastmarkets on Friday March 11.

Fastmarkets’ price book entry for CIS export rebar price showed an incorrect value on Monday March 4, which has now been amended, due to a reporter error.

Rebar sales to the Chilean construction industry hit their lowest monthly level for 2012 in September at 42,710 tonnes, according to figures from the country’s construction chamber, CCHC.

Rebar futures on the Shanghai Futures Exchange dropped to an historical low on Thursday May 15, following the release of poor power consumption data.

In a deal that could prove to be transformative for the rebar industry in the United States, Gerdau has agreed to sell some of its rebar production units, including mills, to Commercial Metals Co (CMC) for $600 million.

Key Asian markets Taiwan and the Philippines will have to rely more on higher-priced steel billet from Southeast Asia if they can no longer procure Russian material amid the ongoing Russia-Ukraine conflict, according to sources

China’s spot rebar prices fell again on Monday December 24, due to weak billet prices and rising inventories.

Fastmarkets has discontinued its weekly assessments of the Latin America rebar export price, which was reported on a dollar per tonne fob main port basis, with effect from Friday March 15.

The Mexican rebar market is expected to remain largely stable in 2016, as private investments in the construction sector are compensating for reduced expenditure on public works.