US rebar and wire rod markets were little changed this week, following another round of price increase announcements from US domestic mills, market insiders told SteelOrbis. Insiders said recent $40-60/nt increases from US mills have largely been accepted for structural sizes and shapes due to scant inventory, though later $30/ton price increases announcements for wire rod have yet to be accepted by the market, especially since March scrap is now seen potentially sideways to lower.
“Despite announced price increases from Nucor, potential increases wire rod pricing remain to be seen at this time,” remarked one Midwest-based long steel insider. “Beam pricing increases have been largely accepted by the market because inventory remains low, but wire rod price increases may have to wait until the beginning of the new month.”
Further price increases by US mills may have a harder time gaining traction in the markets because scrap could be headed down for the first time since the beginning of 2026.
Short-term, long steel pricing they said, could even decline, as warmer weather could help scrap suppliers and mills rebuild depleted inventory at local supply yards.
Short-term 6-10 day weather forecasts from the US National Weather Service indicate a return to more moderate temperatures over the period. In late-January and early-February, cold weather, snow and ice complicated the production and delivery of US scrap, leading to a third month of straight scrap price increases.
In addition to scrap, finished steel prices have been increasing since the beginning of 2026.
Domestic rebar, most recently priced stable at $48.00-49/cwt., ($960-980/nt or $1,058-1,080/mt), has seen 4.3 percent gains since the beginning of the year. Since February 2025, rebar pricing is up more than 22 percent.
“More imports are becoming available on the US Gulf Coast as domestic (long steel) prices have risen,” said one Midwest rebar insider. “Imports have been very low, but now they are getting a bit better for sure. There also is growing sense of anxiety that (domestic) long steel prices may have gone up too much. As a result, we might begin to see some potential discounting from US mills occurring fairly soon.”
“Things are quiet, with snow from three weeks ago still lingering around up north,” remarked one US East Coast rebar trader. “Now warmer weather and melting snow will cause some high water issues and possibly some flooding,” he said. “First we needed snow to melt, then for the ground to thaw, and finally for all the resulting water to dry up. Mid-March should be the time things get busier in rebar markets.”
The East Coast rebar trader noted increased trade activity this week, as he said, increased imports were becoming more available.
“The word of the day is that customers are coming out of the woodwork,” he said. “Pricing is up on truckload import orders of rebar at $45.00/cwt. And, when these dry up we’re hearing buyers are bidding as high as $46-47.00/cwt.,” he said. We’re also hearing that hot rolled coils are trading as high as $1,000/ton as a result of rising scrap prices.”
