US import long steel prices were steady this week following slight gains posted a week before, amid thin new trade as markets appear sidelined waiting on more certainty regarding the Mideast situation, which has caused chaos in steel-related freight and global supply chain circles as the Strait of Hormuz remains under US blockade for nearly three weeks, market insiders told SteelOrbis.
“With rising oil prices, we’re continuing to see an ocean freight crisis develop, and as a result, transportation companies are re-negging on contracts, so people are not getting the deliveries for contracts they had agreed to,” remarked one US Midwest-based long steel insider commenting on this week’s flat import pricing scenario. “On the US domestic side, because of ongoing import tariffs, US companies have no extra tons on long steel right now to give up.”
As the Iran conflict enters its ninth week, stalled peace negotiations combined with the ongoing US naval blockade of the Strait of Hormuz caused West Texas Intermediate (WTI) crude oil prices -the US benchmark oil grade- to soar in intra-day futures markets to in excess of $110 per barrel (/bbl) this week. And, while WTI values declined slightly to $104-108/bbl on April 30, WTI prices remain more than 58 percent higher than they were when WTI traded at $67/bbl on Feb. 27, a day before Iran hostilities began.
On the US Gulf Coast, import rebar on a loaded truck basis remains thinly traded though flat on a weekly basis at $45.50-46.50/cwt., ($910-930/nt or $1,003-1,025/mt), though up from $45.00-46.00/cwt., ($900-920/nt or $992-$1,014/mt) two weeks earlier as markets turned slightly higher amid reports of rising fuel surcharges. US East Coast import rebar pricing on a loaded truck basis also remained flat to week ago-levels, following an earlier $0.50/cwt., rise to $46.00-47.00/cwt., ($920-940/nt or $1,014-1,036/mt).
In the weekly wire rod import markets, insiders told SteelOrbis weekly spot pricing remained static at previous price levels, even as supply availability remained thin for both import and domestic buyers. The paucity of shipping assets, combined with rising fuel surcharges, have combined to make imports of long steel less competitive, insiders said.
In the import wire rod markets, wire rod mesh on a DDP loaded truck basis US Gulf Coast, is discussed steady at $47.50-48.50/cwt., ($950- 970/nt or $1,047-1,069/mt), though up from $47.00-48.00/cwt., ($940-960/nt or $1,036-1,058/mt), two weeks prior.
On the steel import side, most recent import permit data from the American Iron and Steel Institute (AISI) finds that total import permits for March rose 6.6 percent versus those posted in February. And, although there is a growing likelihood for more imports later in Q2, actual imports for Jan-Feb 2026 period remain nearly 38 percent lower than those reported one year prior, AISI said. Sharp declines in US imports as a result of ongoing steel tariffs has caused US mills to increase productive capacity to about 80 percent of capacity of late, insiders said, the highest level since August 2024. Ongoing spring maintenance operations at US mills also is keeping US supply fairly tight locally, especially on the US Gulf Coast, where imports remain scant, insiders said.
In other steel-related news, and as previously reported by SteelOrbis, the US Department of Commerce (DOC) has released its final results of the administrative review of the antidumping duty (AD) order on steel concrete reinforcing bar (rebar) from Algeria for the period between April 1, 2024, and March 31, 2025.
The DOC determined that Tosyali Iron Steel Industry Algeria made sales of subject merchandise at less than normal value during the period of review. The DOC has determined a weighted-average dumping margin of 127.32 percent for the company and all other Algerian producers and exporters.
According to the preliminary determination, the weighted-average dumping margin was also determined at 127.32 percent.
