US import long steel prices were stable to a bit higher this week, as import trader attention appears to be focused away from the ongoing conflict in the Middle East, and towards a potential new round of global Section 301 investigations that could result in additional tariffs and possible duties and quotas for Vietnamese wire rod as well as other global steel imports bound for US markets.
The outcome of the new Section 301 investigations announced by US Trade Representative Jamieson Greer on May 29 is important because the US is one of the top five importers of wire rod and related long products from Vietnam at current, especially following the June 2025 doubling of steel import tariffs on Canada and Mexico to 50 percent, effectively locking those exports away from US buyers.
“It’s kind of quiet right now with prices pretty static,” said one US Midwest long steel insider. “The big news this week is about the Section 301 investigations into Vietnam,” he said. “Vietnam is important because it's currently one of the largest suppliers of imported wire rod into the US, and, until we know more about the investigations, we’re not going to be on offer for any wire rod from Vietnam.”
He continued, “In the interim, we’re keeping an eye on some cheaper wire rod offers coming from Malaysia and Indonesia.”
In the import wire rod mesh market, pricing for DDP loaded truck material vicinity Houston was reported to be moving higher with pricing discussed about $0.50/cwt., up at $47.50-50.00/cwt., ($950-980/nt or $1,047-1,080), up from earlier reported trade at $47.00-50.00cwt., ($940-1,000/nt or $1,036-1,102/mt).
Weekly pricing remained steady for yet another week in the import rebar markets owing to low import competition, the result of high tariffs and plentiful domestic supply, insiders said. US Gulf Coast import rebar on a loaded truck basis is discussed steady at $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 stable for yet another week at $46.50-47.50/cwt., ($930-950/nt or $1,025-1,047/mt), though up from $46.00-47.00/cwt., ($920-940/nt or $1,014-1,036/mt) three weeks earlier as oil prices rose in reaction to enhanced supply-related jitters in the Middle East.
Insiders report import pricing remains strong, and while there is continued supply tightness, there is not a panic at the moment, they added. “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.”
In the US domestic long steel market, pricing remained steady for another week, with domestic rebar assessed at $47.00-48.00/cwt., ($940-960/nt or $1,036-1,058/mt), with market participants said to be waiting on action from US mills, which might include additional price increase announcements or the beginning of June scrap buying activities. Insiders told SteelOrbis June scrap, could trade flat to potentially $10-20/gt lower on the month amid more reports of brisk flows into local scrap storage facilities, and a less than stellar export market to Turkey, insiders said.
