US domestic long steel prices were stable to mostly lower this week amid reports of thin local and global trade and more limited seasonal demand, steady to lower scrap pricing and more reports of increased imports, market insiders said.
As many market participants remain on annual summer vacations -with some mills shuttered for several weeks for annual summer maintenance- insiders report weekly trade remains thin, with price assessments problematic. Recent bad weather across much of the US also is reducing trading activity as construction schedules have been delayed, insiders told SteelOrbis.
Insiders added that since US Gulf Coast rebar import offers (mostly from South Korea and Turkey at $44.50-46.50/nt) remain so close to domestic replacement costs, it’s limiting meaningful arbitrage opportunities, and reducing weekly trade.
“There hasn’t been much change at all in weekly long steel pricing,” remarked one US Northeast-based long steel insider. “People are on vacations, and we’ve been seeing some pretty nasty storms which is slowing (construction activity) down.” He added, “Imports are growing as domestic prices have risen recently, so we’re seeing more long steel coming in than we did this time last year which is pressuring the markets down.”
And, while markets were stable to down slightly, a look at SteelOrbis historical data shows current domestic rebar and wire rod prices remain at their highest levels since October 2022 -the result growing demand mostly from US data center build activities combined with a more recent doubling of Section 232 steel import tariffs enacted by US President Trump in June 2025, which have increased domestic long steel prices making rebar imports a more viable option.
In fact, unlike other finished steel products like flat rolled steel, rebar imports actually are significantly higher this year than last. Preliminary census data from the US Department of Commerce shows that rebar imports totaled 103,510 metric tons in April, 45.9 percent higher than a month earlier in March and a full 89 percent higher compared with the same period in 2025.
On the US Gulf Coast, spot rebar on an FOB mill basis is assessed $0.50/nt less at $46.00-$47.00/nt ($920-940/nt or $1,014-1,036/mt), off from $46.50-47.50/cwt., ($930-950/nt or $1,025-1,047/mt) one week ago.
And, while most of the US saw steady to down rebar pricing this week, Nucor announced $30/nt ($1.50/cwt.) increases in rebar pricing effective for orders from West Coast mills received after close of business July 14. The increases will affect customers buying from the Nucor Bar mills in Seattle, WA., Plymouth, UT, and Kingman, AZ. Insiders said CMC followed Nucor with similar West Coast rebar increases.
In the longer term, market insiders added that a growing sentiment for steady to lower scrap prices for July and now potentially August, could continue to weight on domestic long steel prices, especially rebar, as wire rod markets remain structurally tighter, they said.
In the domestic wire rod markets, prices were unchanged on the week versus previous assessments, with limited trade reported at on average $50.00-51.00/nt ($1,000-1,020/nt or $1,102-1,124/mt). Traders said softer domestic wire rod pricing could be forthcoming soon as additional imported wire rod supplies are made available for export to the US during the third quarter from sellers in Malaysia and Vietnam.
