Following reports of higher prices a week earlier, US import rebar and wire rod pricing was steady this week even as reports continue to circulate indicating that ongoing 50 percent Section 232 steel tariffs are contributing to multi-year low imports and causing a continuation of local supply shortages, market insiders told SteelOrbis this week.
Insiders say ongoing 50 percent steel import tariffs and the enhanced importer risk associated with ongoing anti-dumping cases currently under review by the US Department of Commerce (DOC), continues to limit the amount of import material being made available as an alternative to domestic material. And, even as domestic prices continued to rise this week, insiders say imports may be able to compete with domestic suppliers soon.
“Supply remains scarce,” said one US Gulf Coast rebar importer to SteelOrbis. “Imports are tracking at multi-year lows, with August ending around 50,000 tons in Texas and only 10,000-20,000 tons in the Northeast,” he said. “Buyers are waiting to see how the new anti-dumping and countervailing duties (Egypt, Algeria, Bulgaria, Vietnam) will shape import flows, with Turkey and Brazil still the main active suppliers.”
This week, import rebar on a loaded truck basis on the US Gulf Coast is discussed flat at $40-45/cwt., ($800-900/nt or $882-992/mt), depending on the size of the customer, with most transaction averaging $44.50/cwt, up from $43-44/cwt., ($860-880/nt or $948-970/mt), or on average $43.50/cwt., two weeks earlier. Insiders said shortages in South Texas have caused some local suppliers to raise price offers toward $46.00-47/cwt., though it still remains unclear this week, how soon buyers might be interested considering demand.
On the US East Coast, import rebar was steady at $42-46/cwt., depending on customer size, settling the week steady on average $45.00/cwt., ($900/nt or $992/mt).
On the demand side, suppliers report improved order books, the result of ongoing government infrastructure projects, even as private commercial activity remains muted. “A slight pickup has been noted in some regions, but the overall tone is still cautious,” the Gulf Coast importer added. “Fabricators point to margin pressure as one of the biggest hurdles, even as public projects provide steady tonnage,” he continued. “Most see the potential for an uptick in demand in late-Q3 into Q4, helped by infrastructure spending and the anticipated Fed rate cut in September. However, October mill bookings are expected to be lighter, which could temper momentum.”
“Right now, demand is better than production,” said another Gulf Coast importer. “We’re seeing barely any imports coming in, so the markets are getting tighter. Come the fourth quarter, we might see better availability, but right now, the markets’ kinda tight for rebar.” The importer said US mills were likely to raise prices without making a general announcement as was seen before. “US mills are busy,” he added. “With September rollings heard priced at $48.00-49/cwt., over the next several weeks. Mills are going to be offering higher pricing for customers that want to lock in smaller volumes.”
In the import wire rod markets, import wire rod offers in the Port of Houston are heard unchanged at $44-49/cwt., ($880- 980/nt or $970-1,080/mt) inclusive of tariffs, though most are deemed non-viable compared with mesh trades heard flat again this week at $42.50-43.50/cwt., ($850-870/nt or $937-959/mt).
Recent media reports indicated there is currently an 80 percent certainty in financial market circles that the US Federal Reserve will lower the over night bank lending rate by a one-quarter point at the next Fed Open Market Committee meeting September 16-17. Rates have remained at 4.25-4.50 percent since December 2024 and have been blamed for a general lack of investment in US infrastructure projects.
In the Mexican long steel markets, while 50 percent tariffs remain in place, pre-tariff rebar available vicinity Houston, Texas, on a loaded truck basis is discussed steady at $40-42/cwt., ($800-840/nt or $937/mt to $959/mt), compared with earlier weekly estimates at $40-43/cwt., insiders said. As Mexico continues to deal with high export tariffs to the US, one Mexican trader told SteelOrbis that their direct sales of long steel to Canada via ship and rail have increased four-fold, helping to support recent local Mexican price stability in the face of limited US demand and tariff barriers.
