US import long steel prices were stable to a bit higher than week-ago levels, as global buyers remain cautious and sidelined waiting on the results of the latest peace efforts in the Middle East conflict, which now is in its 13th week, market insiders told SteelOrbis.
Despite continued military strikes on Iran deemed “defensive measures” by the US in reaction to recent drone launches into Kuwait and mine laying operations by Iran, ongoing peace negotiations remain shaky at best. At last report, a tentative agreement has been reached for a 60-day memorandum of understanding to extend the ceasefire and begin negotiations with Iran over its nuclear program, pending approval by US President Trump. Also on May 28, media reports indicate the US Treasury Department has sanctioned Iran’s Persian Gulf Strait Authority (PGSA), warning nations using the strait not to pay tolls to Iran.
Elevated risk premiums due to the Middle East conflict and the resulting higher fuel and insurance fees continue to limit new spot bookings of long steel imports, market insiders told SteelOrbis. Steel tariffs of 50 percent, doubled in June 2025 by Trump, also continue to reduce US finished steel imports by as much as 30 percent versus year-ago levels, according to data from the American Iron and Steel Institute (AISI).
“Pricing is still strong, and while there is continued supply tightness, there is not a panic at the moment,” said one US Midwest-based long steel insider. “Things could change fairly soon, though, because imports basically have been missing in action for the last three months.” He continued. “We might really see a drop in imports starting in July, when things could get a lot tighter. We could be in for a good Q3 into Q4 as we continue to be in a price increase versus a price decrease environment.”
On the US Gulf Coast, import rebar on a loaded truck basis remained stable, following previous $0.50/cwt., oil-inspired weekly increases to $46.00-47.00/cwt., ($920-940/nt or $1,014-1,036/mt), up from $45.50-46.50/cwt., ($910-930/nt or $1,003-1,025/mt) several weeks earlier. US East Coast import rebar pricing on a loaded truck basis also remained steady at $46.50-47.50/cwt., ($930-950/nt or $1,025-1,047/mt), up from $46.00-47.00/cwt., ($920-940/nt or $1,014-1,036/mt) two weeks earlier as oil prices rose.
Market insiders told SteelOrbis the recent start of Nucor’s new 430,000 ton per year rebar mini mill in Lexington, N.C., in tandem with output from CMC’s new 500,000-ton per year rebar mini mill in West Virginia later this year could boost supply and reduce or eliminate the ongoing $0.50/cwt US East Coast import rebar price premium versus import material based at the US Gulf Coast.
And, while additional new and expanded mill capacity continues to ramp up, scheduled plant maintenance activities also are expected to balance available US Northeast supply.
“Nucor’s mill at Lexington, N.C., and new output from the Commercial Metals Company (CMC) mill in West Virginia could loosen up supply a bit, though another one of CMC’s rebar mills in Sayreville, NJ could be offline for a month for maintenance,” the rebar insider added. “We are also hearing reports that the 653,000 ton per year Sayreville mill, which is pretty old, may be subject to closure.”
In the import wire rod mesh market, pricing for DDP loaded truck material vicinity Houston is said to be moving higher with offers heard at $49-50/cwt., up from earlier assessments in thin trade at $47-49/cwt.
On the steel import side, most recent import permit data from AISI finds that total import permits for April totaled 1,945,000 net tons (nt). This was an 8.1 percent increase from the 1,799,000 permit tons recorded in March and a 10 percent rise from the March final imports total of 1,769,000 nt. Import permit tonnage for finished steel in April was 1,417,000, up 8.5 percent from the final imports total of 1,306,000 in March. For the first four months of 2026 (including April SIMA permits and March final imports), total and finished steel imports were 7,044,000 nt and 5,157,000 nt, down 28.8 percent and 30 percent, respectively, from the same period in 2025.
AISI said the estimated finished steel import market share in April was 17 percent and is 15 percent year-to-date. March market share rose 6.6 percent versus February, the institute said.
