US import rebar and wire rod prices were steady for a second week, as US domestic long steel supplies remain limited as a result of sharp reductions in finished steel imports and as February scrap pricing appears staged to trade steady to potentially higher for a third straight month, market insiders told SteelOrbis.
And, as US domestic long steel prices recently have traded steady to up as a result of those reduced imports, insiders told SteelOrbis they expect steel importers to make further inroads into US markets in early 2026 as the price advantage between domestic supply and imports continues to shrink.
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.
Long steel insiders told SteelOrbis recently that once domestic rebar prices exceeded $48.00/cwt., ($960/nt or $1,058/mt), on the US Gulf Coast, limited imports begun to be seen as a more serious consideration for overseas suppliers, however, insiders reminded SteelOrbis that US mills are likely to be fiercely competitive in maintaining market share they have recently gained versus imports over the past eight months since tariffs went into play.
“The wire rod business is very slow, at least on the import side,” said one US Gulf Coast long steel importer.
“We’re hearing no new changes in spot pricing this week, though people are really bullish on the US steel business” said another US East Coast long steel importer.
On the US Gulf Coast, import rebar on a loaded truck basis is discussed steady at $45.00-47/cwt., ($900-940/nt, or $992-1,036/mt), unchanged from two weeks earlier. US East Coast rebar remains steady at $45.00-46/cwt., little changed from recent levels, market insiders told SteelOrbis.
During recent January scrap negotiations, most US domestic scrap grades rose an additional $20-30 a gross ton (gt). In December and January trade alone, US Midwest shredded scrap prices -the US rebar benchmark scrap grade- has 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.
Long steel insiders say recent announcements of price increases from domestic mills could continue as domestic supply continues to tighten.
Following a January 9, $1.50/cwt., price increase from Commercial Metals Company (CMC), Charlotte, North Carolina-based Nucor announced its own $30/nt price increase on sales of domestic rebar. Insiders told SteelOrbis they were surprised Nucor followed CMC’s announcement, as Nucor usually leads price announcements, though it demonstrates the continued paucity of domestic rebar supply “on the ground,” they said.
At current, domestic rebar and wire rod remain at parity at $48.00-49/cwt., ($960-980/nt or $1,058-1,080/mt), with rebar up about $1.50/cwt., from two weeks earlier, market insiders told SteelOrbis. Wire rod remained flat to week-earlier levels, though could be poised to rise soon as inventories dwindle and especially if still higher February scrap prices are realized.
Insiders told SteelOrbis last week increased inbound long steel deliveries from Turkey and Korea could make further inroads at US docks during February, March and April. “Once the increased imports start to flow, we could see some softening for domestic pricing,” an insider remarked.
In the import wire rod market, wire rod mesh on a DDP loaded truck basis US Gulf is discussed stable for the week at $44.00-45/cwt., ($880-900/nt or $970-992/mt), despite a recent $40/nt price increase from Nucor ($2.50/cwt.) on its engineered mesh products.
“Import wire rod and wire mesh prices remain competitive but have not disrupted domestic pricing, given tariff exposure, logistics, and ongoing buyer behavior,” one US Gulf Coast long steel insider said. “Demand is slow but steady, typical for the season.”
The long steel insider added that reports on the status of the Liberty Steel wire and rod plant indicate the Peoria, Illinois-based unit is running at less than full capacity. Calls to confirm ongoing operations at Liberty Steel by SteelOrbis were not returned at press time.