US domestic rebar and wire rod prices remained flat this week amid limited new regional demand, even as the outlook for February scrap was reported steady to higher for a second straight week, market insiders told SteelOrbis.
Long steel insiders said new weekly spot trade was limited with many market participants in attendance at the annual World of Concrete conference in Las Vegas, Nevada. Continued strong scrap pricing, some noted, was expected to continue to be supportive for domestic long steel markets, as many scrap suppliers began to address logistical concerns in the face of an advancing winter storm that could affect finished steel and scrap deliveries across more than 35 states late this week into early next.
“The market is very quiet this week. Everyone in this market seems to be in the same situation right now,” said one SteelOrbis long steel insider. “There is not much movement from last week,” reported another. “Things in the longs market are still pretty firm.”
While long market activity remained limited, scrap insiders told SteelOrbis many remain concerned cold, snow and ice across much of the US this weekend into early next week would likely further reduce already low deliveries of inbound and outbound scrap, further contributing to the likelihood that steel production costs for domestic mills will continue to increase as we head into the middle part of the first quarter of 2026. And, with finished steel supply on the ground at suppliers still reported tight, pricing markets are expected to remain supply-driven near term.
“In mid-January, people are buying scrap based on February speculation of an up $20/gt market,” said one US Midwest scrap supplier. “From a freight perspective point of view, given the bleak weather forecast, scrap prices should and will go up.”
In the weekly rebar spot markets, domestic supply on an FOB mill basis was assessed with most transactions noted at $48.00-49.00/cwt, ($960-980/nt or $1,058-1,080/mt), on average $48.50/cwt, ($970/nt or $1,069/mt), unchanged from a week earlier.
Based on a steady to up $20/gt assessment, February US Midwest shredded scrap is likely to trade at $423-440/gt ($430-447/mt).
As reports of limited domestic supply as a result of slashed US finished steel imports continue, insiders said recent price increases from domestic mills could continue into early February as previous price hikes have been largely accepted by the marketplace.
On January 11, 2026, the Nucor Bar Group increased prices by $1.50/cwt ($30/nt or $33/mt) on all rebar products. This followed another Nucor customer announcement on January 6, 2026, from its Nucor Bar Group which announced a price increase on most merchant and structural products by $2.50/cwt ($50/nt or $55/mt). There have been no new recent Nucor announcements this week.
On the domestic long steel demand side, weekly discussions continue regarding steady but limited finished steel demand from the US construction industry and its current key demand drivers including infrastructure projects and data center construction efforts. Insiders also said long steel demand from the Infrastructure Investment and Jobs Act (IIJA) also is likely to remain supportive for domestic long steel demand as municipalities scurry to secure necessary government funding and grants ahead of federal and state application deadlines, some of which will expire this summer.
In the domestic wire rod market, domestic supply on an FOB mill basis was assessed with most transactions reported this week at $48.00-49.00/cwt ($960-980/nt or $1,058-1,080/mt), or an average of $48.50/cwt ($970/nt or $1,069/mt), unchanged from a week ago.
Reports of steady but somewhat reduced output from the Peoria, Illinois-based Liberty Steel wire and rod plant continued this week, though attempts to verify ongoing steel output with Liberty remained unsuccessful at press time.
