US domestic rebar and wire rod prices were stable this week in thin trade ahead of this week’s US Thanksgiving holiday on the heels of steady though unremarkable demand, and a continuing outlook for flat to higher December scrap values, market insiders told SteelOrbis.
Long steel insiders said continuing tariff-related declines in long steel imports are taxing operations at domestic mills, causing many to increase productive capacity utilization rates, where possible, while rationing the delivery of available material through supply allocations. As a result, market insiders expect domestic long steel pricing to remain well supported through the balance of this year and into early 2026, when supplies of imported material are expected to begin to increase. “Domestic mills should keep their pricing until the first quarter of 2026, but I don’t think it’s going to be the normal quiet December like we anticipated earlier, because buyers will need to watch the market closely in order to locate imports,” a long steel insider told SteelOrbis.
In the weekly rebar spot markets, domestic supply on an FOB mill basis was assessed with most transactions noted at $46.00-47.00/cwt, ($920-940/nt or $1,014-1,036/mt), on average $46.50/cwt, ($930/nt or $1,025/mt), unchanged from seven days ago.
In the domestic wire rod market, domestic 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.
On the domestic supply side, effective Wednesday, November 26, Charlotte, North Carolina-based Nucor announced a price increase of $2.00/cwt for wide flange beams, standard beams, and piling products. The mill said all confirmed order as of the close of business November 25 would be price protected if shipped before December 16, 2025. The latest SteelOrbis Angle pricing from Nucor on an ex-works basis is now pegged at $57.50-58.00/cwt., ($1,150-$1,160/nt or $1,268-$1,279/mt). The latest for wide flange beam pricing is now at $71.75-72.25/cwt ($1,435-1,445/nt or $1,582-1,593/mt).
Market insiders continued to state the importance of data center construction which has been driving the rebar market while other construction sectors remain unimpressive. “Data center construction is carrying the entire [rebar and wire rod] segment,” said one Midwest rebar impoprter. “Construction demand from other segments are getting softer.” Google announced today that it has plans to invest $40 billion to expand cloud and artificial intelligence infrastructure in Texas by 2027, including expansions to existing as well as new data center construction in the southern state.