Import rebar and wire rod prices were slightly lower this week amid limited global demand for long steel products, even as US scrap markets were expected to trade higher near term, which insiders say could encourage more import activity soon as domestic pricing was likely to remain supported.
And, as US domestic long steel prices recently have traded steady to higher as a result of reduced tariff-inspired imports, insiders told SteelOrbis importers could make further inroads into US markets in early 2026 as the price advantage between domestic long steel supply and imports shrinks.
Since the week of June 4, when the US imposed doubled 50 percent steel tariffs on Canada and Mexico, US domestic rebar and wire rod prices have increased 27.6 percent and 7.7 percent, respectively, SteelOrbis data shows. Insiders said rising domestic prices above $47.00-48/cwt., allows import pricing alternatives to be more competitive with domestic supply, given ongoing tariffs and expanded company and country-specific anti-dumping duty assessments.
At last report, US domestic rebar and wire rod supply is assessed stable at $48.00-49/cwt., though insiders told SteelOrbis higher spot prices are likely, with US mills expected to announce another round of customer price increases, especially if rising US scrap values continue to increase mills’ finished steel production costs for a third straight month.
On the US Gulf Coast, import rebar on a loaded truck basis is discussed slightly lower in scant trade at $45.00-46/cwt., ($900-920/nt or $992-1,014/mt), off from $45.00-47/cwt., ($900-940/nt, or $992-1,036/mt), reported seven days prior. US East Coast import rebar is assessed at parity with Gulf Coast supply once again at $45.00-46/cwt., ($900-920/nt or $992-1,014/mt), also down.
During January scrap negotiations, most US domestic scrap grades rose an additional $20-30 a gross ton (gt). Ahead of monthly scrap supply negotiations that begin next week, February scrap is seen an additional $30/gt higher, with US benchmark Midwest shredded scrap used in rebar production valued at $445-450/gt ($438-443/mt), scrap insiders told SteelOrbis. In December and January trade alone, US Midwest shredded scrap prices increased a total of $50/gt to $415-420/gt ($422-427/mt), a nearly 8 percent gain. During the same time period, US domestic rebar pricing rose about 4.3 percent. If expected February scrap prices prove true, pricing for Midwest shredded scrap will have risen nearly 16 percent since the release of December settles.
In the import wire rod mesh markets, import supply on a DDP loaded truck basis US Gulf is discussed at $43.50-44.50/cwt., ($870-890/nt of $959-981/mt), off $10/nt from, $44.00-45/cwt., reported one week prior.
Import insiders told SteelOrbis they expect increased shipments of wire rod to arrive from South Korea exporters during June and July, 2026. Stable domestic long steel pricing, they said, is likely to continue nearer term, as markets “digest” recent mill price increases reported by mills during January trade.
“The South Koreans right now have the best prices out there for wire rod,” reported one US Midwest-based long steel importer. “Long steel pricing in Asia has been depressed for a while, China exports have been lower, and as a result import pricing is adjusting down a little bit. There is a growing spread between domestic and import pricing that could make imports more attractive fairly soon.”