US domestic rebar and wire rod prices have both increased this week. In fact, all product lines are up due to the recent tariff announcement by President Trump.
In the weekly rebar spot markets, domestic supply on an FOB mill basis is assessed with most transactions noted at $39.00-40.50/cwt. ($780-808/nt or $860-891/mt), on average $39.75/cwt. ($795/nt or $876/mt), up $1.00/cwt. ($20/nt or $22/mt) from seven days ago.
There has been a continued shortage of wire rod supply due to the Liberty Steel halt in production. “The Liberty Steel mill is saying if they begin to receive funding, they will start melting metal come March and April,” according to a SteelOrbis insider. In the domestic wire rod market, most transactions were reported this week at $41.00-42.00/cwt. ($820-840/nt or $904-926/mt), or an average of $41.50/cwt. ($830/nt or $915/mt), up $0.50/cwt. ($10/nt or $11/mt) from seven days ago.
Overall, demand is low due to the pricing increases. Most are still uncertain what is next for US tariffs and are describing this time in history as an ever-changing waiting game. “Overall, the uncertainty will likely lead to short-term volatility, but a tariff decision in March could dictate the long-term market direction. If imposed, expect higher domestic prices and a restructuring of supply chains in the second quarter,” says another market insider.