US domestic rebar and wire rod prices were flat for a twelfth week straight amid continued limited spot market demand, even as a growing consensus within scrap trading circles finds that November domestic scrap pricing could settle sideways, market insiders told SteelOrbis this week.
In reaction to this week’s continuance of steady pricing, market respondents told SteelOrbis that domestic pricing is not the issue. “It’s availability,” remarked one US Midwest import insider. Another said, “Despite seasonal demand softening, mills continue to control allocation effectively, keeping supply disciplined and supporting firm values.”
In the weekly rebar spot markets, domestic supply on an FOB mill basis was assessed with most transactions noted at $44.50-45.50/cwt, ($890-910/nt or $981-1,003/mt), on average $45.00/cwt, ($900/nt or $992/mt), unchanged from seven days ago.
Market insiders told SteelOrbis that even though rebar and wire rod demand from nonresidential construction projects continues to lag, activity is likely to pick up in the new year. “Some fabricators have confirmed strong bidding activity for 2026; however, many projects are not yet released, suggesting a steady demand flow into early next year.”
Another rebar insider ventured a guess about pricing through the remainder of the 4th quarter.
“I think domestic rebar will be flat to maybe up $1.00-$1.50/cwt through the end of the year because domestic mills could become greedy,” he added.
In the domestic wire rod market, market insiders continue to report “regional tightness” regarding current wire rod supply, even though reports continue to circulate that Peoria, Illinois-based Liberty Steel has reached its 700,000 tons a year productive capacity.
Domestic wire rod supply on an FOB mill basis was assessed with most transactions reported this week at $46.50-47.50/cwt ($930-950/nt or $1,025-1,047/mt), or an average of $47.00/cwt ($940/nt or $1,036/mt), unchanged from seven days ago.
“Domestic demand and imports remain sluggish,” said another US Gulf Coast based long steel insider, commenting on the continuing tight supply situation. “I think the domestic market for rebar has to either increase toward $48/cwt., or import pricing has to dip toward $42-43/cwt for imports to work, as there has to be between $3-6/cwt., [of a] differential between imports and domestic pricing in order to effectively bring in supply.”