US exports of steel concrete reinforcing bars (rebar) totaled 23,288 metric tons (mt) in April 2026, marking a sharp 14.9% decline compared to the 27,365 mt exported in March, and dropping 35.1% relative to April 2025 volumes. Reflecting weaker pricing segments, the total export value compressed to $13.5 million from $15.8 million in the previous month and $16.0 million in the prior year. Cross-border regional supply chains within North America continued to absorb the entire output, with shipments to Canada hitting 10,950 mt (down from 14,707 mt in March) and exports to Mexico settling at 4,343 mt, while no other single international destination exceeded 500 mt. The market impact indicates that prolonged stagnation in Canadian residential construction and commercial fabrication activities has heavily paralyzed cross-border rebar shipment velocity. This severe reduction in outbound flows points to an accumulation of merchant long products at US domestic mini-mills, which will likely compel domestic producers to slash pricing to clear rising inventories

[Billet] Today, export billet quotations remained stable. Currently, mill quotes were on the high side, generally above $470/mt, while market tradable prices were mostly at $465-467/mt. Steel mills had a strong willingness to hold prices firm due to cost considerations, making it quite difficult to close export billet orders. [Rebar] Today, rebar export FOB quotations were basically stable. According to market feedback, recently, some steel mills, due to maintenance of blast furnaces and associated construction steel rolling lines, controlled the pace of taking rebar export orders. Meanwhile, wait-and-see sentiment among overseas clients was strong, leading to a noticeable shrinkage in overall export rebar orders. [Sheets & Plates] Today, export prices of HRC and other sheets & plates edged down day-on-day but held steady, with HRC transactions at $492-501/mt. Recently, due to declines in domestic futures and adjustments in the yuan exchange rate, some distant countries began to increase inquiry and purchasing demand. In terms of semi-finished products, short-term inquiry and purchasing willingness was low due to high domestic prices and the fact that overseas buyers had already made a certain amount of purchases earlier.

[Turkey] Turkish rebar offers today held stable at 576 USD/tonne EXW. Due to the highly uncertain geopolitical situation in the Middle East (despite the US extending the sanctions waiver for Iranian crude oil shipments until August 21), both buyers and sellers generally maintain a wait-and-see stance. SMM research indicates that rebar offers from some mills in the Marmara region are slightly higher at around 585-590 USD/tonne EXW, though these usually come with extended payment terms. The export market continues to be sluggish, with Turkish rebar export offers dropping by 5 USD/tonne today to 580 USD/tonne FOB. Currently, high borrowing costs and a weak lira continue to pressure the market. In the short term, as end-of-quarter debt repayment deadlines approach, companies remain focused on generating cash flow, meaning mills are likely to offer further price cuts in the coming weeks.

[Slab] Today, HRC export prices fell by USD 1/tonne day-on-day, with HRC transaction prices at USD 492–501/tonne. Other flat steel prices were also lowered by USD 1–2/tonne. Although domestic export offers continued to decline, traders said overseas demand has not shown any clear recovery. [Rebar] Today, rebar export FOB prices edged down by USD 1/tonne. Market participants reported that enquiries remained relatively muted, with no significant improvement in transactions. Participants continued to adopt a wait-and-see stance. [Billet] Today, export billet offers remained weak but stable, currently quoted at USD 465–468/tonne. Market feedback indicated that Southeast Asia is currently in its traditional demand off-season, while buyers in the Middle East largely remained on the sidelines. Overseas customers showed limited willingness to place orders, and domestic export offers still lacked a clear competitive advantage, leaving transactions generally moderate.

SMM News Flash: [Steel Billet] Export billet offers fell by 3-4USD/tonne today to around $470/mt. Inquiries from outside China decreased, orders declined, and the actual negotiation margin for transactions was around 5USD/tonne. Market intelligence indicated that Iran recently took orders for billets, offering significant price advantages, which diverted some Middle Eastern orders to Iran. Additionally, billet export prices from some neighboring countries were lower than those in China, so overseas buyers remained cautious in the short term, which would limit export transactions. [Rebar] Rebar export FOB offers edged down by 2USD/tonne today, tracking futures. According to traders, market sentiment was subdued and inquiries were mediocre. Offers for southern China resources were maintained at 520-525USD/tonne, which were relatively high. [HRC] HRC export prices fell by 1-2USD/tonne day-on-day today, with transaction prices at 494-503USD/tonne. Based on current inquiries, market offers remained mostly above 500USD/tonne, with shipment periods from July to August. Some overseas buyers made inquiries, but their target prices were more than 5USD/tonne below offers.

SMM News Flash: [Rebar] Rebar export FOB offers remained stable today. Market traders reported that inquiries were relatively mediocre and transactions remained weak, with strong wait-and-see sentiment among market participants. [Steel Billet] Billet export offers were in the doldrums today, quoted at 473-476 USD/tonne. Market feedback indicated that current trader offers were on the high side, while overseas billet export offers declined, weakening China's competitiveness and resulting in mediocre inquiries and poor transaction performance. [HRC] Sheet & plate export prices dropped1-2 USD/tonne day on day today, with HRC transaction prices at 496-50 USD/tonne. Market feedback showed that inspection rates at North China ports had increased recently, causing some unofficial quoted sources to shift to relatively less stringent ports for port departures, and corresponding price spreads narrowed. Regarding the de-escalation of US-Iran tensions, some export participants consulted today reported no notable increase in inquiries yet, and buyers may also be waiting to see subsequent risks.ently, there have been some new inquiries for medium and heavy plate in the Middle East, with a portion of them resulting in transactions. [India] A 0.40 INR/kWh industrial power tariff increase in Chhattisgarh, effective 1 Jul 2026, will raise induction furnace billet costs by ~3.17–3.80 USD/tonne and re-rolling (rebar/wire rod) costs by ~0.51–0.63 USD/tonne. Weak monsoon-season demand limits cost pass-through, with billet margins at risk of erosion by 2.64–3.69 USD/tonne. [SEA] Currently, construction project operating rates in Vietnam, the Philippines, Indonesia, and Thailand are at a seasonal low, severely suppressing rigid demand for long steel products such as rebar and wire rod. End-user buying sentiment is weak, the pace of overall inventory destocking is slow, and local major mills' rebar EXW prices are at 520–535 USD/tonne. Meanwhile, with the release of information on US-Iran negotiations, news of the Strait of Hormuz unblocking has sparked expectations among Southeast Asian buyers of lower freight rates, creating a mindset of buying on dips and waiting on the sidelines. However, according to SMM's latest survey, even if the agreement can be signed smoothly on the 19th, the actual unblocking of the strait will still require a buffer period. Freight rates are expected to be difficult to lower in the short term and will mainly fluctuate at high levels. [Taiwan, China] This week, Feng Hsin, a leading long steel producer in Taiwan, kept its long steel prices stable, halting a three-week downward streak. Specifically, the rebar price stabilized at 583 USD/tonne EXW (approximately 18400 TWD/tonne), while the structural steel price held steady at 792 USD/tonne EXW (approximately 25000 TWD/tonne). This price stability indicates that mills are ready to accept new orders as the market gradually bottoms out.