US domestic rebar and wire rod prices were reported steady once again this week, continuing a trend noted two weeks earlier, following March’s flat scrap price assessment and amid a growing market sentiment for steady to lower April scrap pricing next month, market insiders told SteelOrbis.
Domestic rebar prices on an FOB Midwest mill basis remained flat for a second week following earlier $0.50/cwt., price declines to $47.50-48.50/cwt., ($950-970/nt or $1,047-1,069/mt), two weeks ago.
In the domestic wire rod markets, insiders told SteelOrbis domestic supplies remain tighter than those noted recently for rebar, with expectations running high that another mill price hike could occur soon. Following earlier $0.50/cwt., price increase, prices finished flat for a second week at $49.00-50.00/cwt., ($980-1,000/nt or $1,080-1,102/mt), up from $48.50-49.50/cwt., ($970-990/nt or $1,069-1,091/mt) three weeks ago. Insiders said current rebar and wire rod lead times are estimated at between 6-8 weeks.
Market insiders told SteelOrbis rising global energy costs might support domestic long steel prices, even as local long steel production continues to rise in concert with the start of the US spring construction season, and amid reports that data center builds and manufacturing activity are likely to rise in the second quarter of 2026.
“Supply tightness is expected to keep wire rod firm to slightly higher in the near term, especially if infrastructure and manufacturing demand continues to strengthen,” another long steel insider told SteelOrbis.
Long steel imports, which had begun to show increases prior to the conflict, could be dampened once more, insiders added, noting higher shipping and insurance rates have made import material more costly and domestic production a more attractive option as the ongoing conflict in the Persian Gulf entered its 20th day (March 19).
“Higher energy prices could potentially help to maintain current domestic long steel price levels,” the US Gulf Coast long steel insider told SteelOrbis.
Brent crude oil traded March 19 at $109-$111 per barrel (/bbl), up about 50 percent since the war started amid ongoing market volatility and Middle East supply concerns as Iran and Israel exchanged tit-for-tat strikes on Persian Gulf oil and natural gas infrastructure.
“Given what’s going on on the world, domestic long steel prices are more prone to go up than down,” said another US Midwest long steel insider. “The price of ships’ bunker fuel went up a lot and it looks likely that it will continue higher because the war looks unlikely to de-escalate.”
Shipping insiders told SteelOrbis the average cost of shipping scrap from the US East Coast to Turkey has risen about $10 per ton to about $48/ton (March 19) since hostilities with Iran began on Feb. 28.
Long steel importers said rising energy prices have prompted major long steel suppliers in Vietnam and South Korea to increase prices significantly, in some cases by $60/mt, slashing the profitability of exports.
“While we sold import rebar barges upriver (US) for May arrival in the high-43.00’s per ctw., -all coming from South Korea- we’re not getting quoted any new numbers,” the importer said. “And, we’re hearing no new long steel supply offers out there recently for July and August as of yet, so traders are laying low.”
