US import rebar and wire rod pricing was steady to slightly up this week ahead of the expected implementation of across-the-board 25 percent tariffs on imports of steel and aluminum scheduled for March 12, while so-called blanket tariffs on Canada and Mexico, the US’ two largest trading partners are likely to proceed as planned next week on Tuesday, March 4.
In the imported rebar markets, pricing was steady following earlier $0.50-1.50/cwt. ($10-30/nt or $10-$33/mt) increases as uncertainty over import tariffs drove new sales, insiders told SteelOrbis. As market participants wait to see whether tariffs go into effect over the next several weeks, offers from Egypt are reported flat on a delivered-to-customer basis at $36.50/cwt. ($730/nt or $805/mt), while offers from Vietnam for May delivery are discussed flat at $34.50/cwt. ($690/nt or $761/mt), following earlier weekly assessments reported at $33.00/cwt. ($660/nt or $728/mt) delivered. Offers from Mexico on a Houston loaded truck basis are flat on the week at $37.50-39.50/cwt. ($750-790/nt or $827-871/mt), though up from earlier reports at $37.00-38.00/cwt., ($740-760/nt or $816-838/mt).
Pricing was also reported flat for import rebar on a loaded truck basis at the US Gulf and US East Coast, following last week’s $15/nt ($17/mt) increase to $35.75-36.75/cwt. ($715-735/nt or $788-810/mt).
On the import wire rod mesh front, import material on a DDP loaded truck basis USG was assessed $0.50/cwt. ($10/nt or $11/mt) higher on the week at $37.50/cwt. ($750/nt or $827/mt), up from $37.00/cwt. ($740/nt or $816/mt), following on earlier price strength as US markets posted advances amid continued uncertainty regarding the much-anticipated restart of the Liberty Steel wire rod plant in Peoria, Ill. this March.
Insiders told SteelOrbis this week that although the downed Liberty Steel wire and rod plant is expected to resume operations in early March, the ramp up to full production could take up to three months, with wire rod supply unlikely to hit the market until May or June, they said.
On February 27, US President Trump announced on his social media platform Truth Social that reciprocal tariffs, which would match all existing tariffs levied against the US, would be implemented in kind with foreign nations as of April 2.
