Rebar and wire rod prices remained stable this holiday-shortened week as supply and demand appear to be balanced in continued thin trade, market insiders told SteelOrbis. This week’s continued stable pricing for standard long steel grades comes amid additional announcements from steel maker Nucor of additional price increases for its specialty products.
This and other early-May mill price increases come at a time when US domestic steel producers remain squeezed by a continuation of low Section 232 tariff-inspired imports, even as insiders report improving long steel demand from data center and other government-related infrastructure construction activities.
“Data center, infrastructure and energy-related construction continue to outperform traditional commercial construction, creating pockets of very strong demand, despite slower activity in some institutional and smaller commercial segments,” reported one US Gulf Coast-based long steel insider. “Overall sentiment across the industry is improving gradually, with buyers increasingly focused on securing reliable supply rather than aggressively challenging pricing.”
The insider continued. “Import arrivals are expected to remain below historical levels due to tariffs, longer lead times, higher freight costs, and firmer offshore offers.” He added, “This dynamic continues to support domestic pricing stability across most long steel product categories.”
In the domestic rebar market, Midwest rebar on an FOB mill basis remained steady for a second week at $47.00-48.00/cwt. ($940-960/nt or $1,036-1,058/mt), up from $46.00-47.00/cwt., ($920-940/nt or $1,014-1,036/mt) two weeks earlier. SteelOrbis data shows on a yearly basis, domestic rebar prices remain up about 24 percent from equivalent weekly levels seen one year ago.
In the local wire rod markets, spot pricing on the US Gulf Coast remains steady following earlier $1.00/cwt., ($20/nt or $22/mt) price increases a month ago, bringing pricing on an FOB basis to $50.00-51.00/cwt., ($1,000-1,020/nt or $1,102-1,124/mt). Traders said again this week that ongoing market tightness for wire rod products could prompt US mills to seek further price increases for the grade, though some said an expected increase in import competition as domestic prices continue higher, could limit the amount of a potential increase, or its market acceptance once reported.
One US East Coast rebar insider summed up the current domestic long steel market thus, favoring a humorous approach.
“You have heard me say this before,” he said. “But, no matter what spin the steel industry, or the government, or the economists put on things, there is too much household consumer debt. It’s up $4 trillion since COVID. This is why each construction season for the last three years have been sluggish, and why it will continue until something gives.” He continued. “What does this mean for the market? On the US East Coast, more specifically, the Mid-Atlantic region, pricing is flexible. I think the mills are willing to give a little to secure orders. Not hot yoga flexible, but more like (Alexandra Ocasio Cortez) going to a country music festival flexible. Reluctant, hesitant, cautious, but still tapping her feet to the music.”
Even as rebar and wire rod assessments were unchanged, on May 22, Huger, S.C--based Nucor Steel Berkeley, announced pricing for 12-inch and 15-inch channels would rise by $90 a ton ($4.50/cwt.) In addition, effective with new orders received on May 26, the mill will increase its grade adder for A65 to $100/ton or $5.00/cwt. The mill also announced its size adder for W6x7 would rise to $120/ton or $6.00/cwt. All confirmed orders as of the close of business May 26, will be price protected if shipped before June 12, the mill said in a customer letter.
On the suppy side, according to the most recent data from the American Iron and Steel Institute (AISI), US steel mills produced 1,870,00 net tons of raw steel during the week ended May 23, at a capacity rate of 81 percent, off from the 1.898 million net tons of raw steel at a reported 82.2 percent of capacity during the week ended May 16, the highest since August 2024. And while off 1.5 percent on the week, current week production still represents an 8.7 percent increase from the same period in 2025.
In other news, and as previously reported by SteelOrbis, US-based Nucor Corp. has officially opened its Lexington rebar micro mill in Lexington, North Carolina, bringing 430,000 tons of annual rebar capacity online to serve construction and infrastructure projects along the East Coast of the US.
