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September 24, 2025 at 8:50 PM

Steel Long Products Market Update

Steel Long Products Market Update

Domestic Mills Struggle to Keep Up as Imports Plummet

 

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Updates From This Week 

Domestic Mills Struggle to Keep Up as Imports Plummet

It has been over three months since the U.S. government increased Section 232 tariffs on most steel imports from 25% to 50%. The only notable exception is the UK, which maintains a preferential 25% tariff. However, with the UK only exporting about 10,000 tons of steel to the U.S. each month—primarily flat-rolled and tube products—this exception has had a minimal impact on the market.


Neighboring countries like Canada and Mexico, which previously had tariff-free trade, are now also subject to the 50% tariff. Since these nations are heavily focused on North American markets, they are feeling the pressure the most.


Canada, a major wire rod supplier, has seen its average monthly exports to the U.S. drop from 40,000 tons to just 15,000 tons. Similarly, Mexico's rebar exports, which are a key part of their business, have plummeted to less than 1,000 tons a month. With very little inventory remaining in the U.S., the impact is significant.


This trend is not limited to North America. Ongoing anti-dumping cases against rebar from Egypt, Vietnam, Algeria, and Bulgaria are also having a major effect. In September, rebar imports from these countries were only around 9,000 tons, a serious decline from the 12-month average of 76,000 tons. Similarly, wire rod imports have also plunged to 22,000 tons in September, compared to the previous 12-month average of 95,000 tons.


The domestic market is attempting to fill this gap. Liberty Steel in Peoria, Illinois has ramped up production to 30,000–35,000 tons per month, exceeding expectations for its comeback. While this helps, it is still short of its full capacity of about 50,000 tons.


For rebar, many new mills are being built that will add millions of tons of capacity in the coming years. In contrast, there are currently no new wire rod mills under construction. The only plan mentioned is from Hybar, which is already building a rebar mill in Arkansas and has discussed building a second mill for wire rods, but this is likely years away from production.


At the moment, the rebar market is tighter than the wire rod market. Rebar prices have climbed in recent months despite stable scrap prices. An additional price increase could be on the horizon as the market struggles to meet demand.


Meanwhile, many wire rod buyers are anxious about the lack of price direction. Fortunately, demand for wire rods is only lukewarm, so there is no immediate crisis. With current consumption levels, most buyers have enough inventory to last until the first quarter. This could lead some to reduce their usual monthly orders from domestic suppliers. However, construction planning data has been surging in the recent months and indicate a strong 2026 construction year.  A sudden surge in demand could still occur within a month or two, creating a situation where imports cannot save the day.

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Our Next-Generation Marketplace Is Here


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Warmly,

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From our content partner, SteelOrbis

US domestic rebar and wire rod both flat for seventh consecutive week

Thursday, 18 September 2025 16:32:21 (GMT+3) San Diego

US domestic rebar and wire rod prices were unchanged for a seventh straight week with demand for rebar said to be “decent,” as tariff-inspired reductions in imports continues to limit supply, while wire rod markets were reported to be “stagnant,” even as the 700,000 tons per year Liberty Steel wire and rod plant was reported to at or near capacity, market insiders told SteelOrbis this week.

 

And while prices remained flat on the week, insiders said domestic long steel market are currently in balance, with rebar the most likely to see short-term price increases any time soon.

 

“Liberty Steel left a large hole in the market due to its absence, but now that they have returned, there are no shortages expected short term and mills are not pushing up prices because demand remains soft,” a Steel Orbis insider said. “The market’s in equilibrium right now.” 


In the weekly rebar spot markets, domestic supply on an FOB mill basis was assessed with most transactions noted at $44.50-45.50/cwt, ($890-910/nt or $981-1,003/mt), on average $45.00/cwt, ($900/nt or $992/mt), unchanged from seven days ago.

 

In the domestic wire rod market, domestic supply on an FOB mill basis was assessed with most transactions reported this week at $46.50-47.50/cwt ($930-950/nt or $1,025-1,047/mt), or an average of $47.00/cwt ($940/nt or$1,036/mt), unchanged from seven days ago.

US import long steel prices continue flat; imports seen minimal until early 2026

Thursday, 18 September 2025 19:11:19 (GMT+3) San Diego

US import rebar and wire rod prices were steady again this week even as reports of record low imports continue as a result of ongoing Section 232 tariffs. Long steel market participants report a general tightening of domestic rebar supply, with little relief seen until Q1 2026 when importers say they could resume the movement of import tonnages into the US from abroad.


“Trader talk seems to indicate that very few ships are likely to be booked for the balance of this year,” commented one long steel importer to SteelOrbis. “We don’t expect to see much imports coming into the US until January-February, so right now nothing is being offered.”


And while import supply remains reduced, domestic prices were flat again this week, with wire rod pricing on a delivered to customer basis reported unchanged for more than three months at $46.50-47.50/nt ($930-950/nt or $1,025-1,047/mt). Insiders continue to report improved wire rod output from Peoria, Illinois-based Liberty Steel combined with limited demand as a key reason for a lack of recent domestic price movement.


“People are divesting themselves of what they bought in the past by basically selling existing stock on the ground,” the importer added. “At some point, however, those supplies are going to dry up, and a new wave of buying will commence.”


This past week, insiders said low imports combined with uncertainty regarding October mill rolling schedules was expected to continue to contribute to domestic supply shortages, potentially giving domestic mills more leverage on the current spot market pricing front, even though another round of domestic mill price increases failed to occur as was expected earlier this week.


“Nucor didn’t raise domestic rebar pricing like many expected,” the importer commented. “We’re seeing signs that the US economy is slowing down, even though some of the tariffs might be canceled soon.” He continued, “The long steel markets right now seem to be in equilibrium, however, higher US October scrap pricing next month could push domestic pricing higher.”


This week, import rebar on a loaded truck basis on the US Gulf Coast is discussed steady at $43.00-45/cwt., ($860-900/nt or $948-992/mt), depending on the size of the customer, with most transactions averaged steady at $44.50/cwt. ($890/nt or $981/mt). Insiders said a developing trend for domestic rebar is looking higher. “The rebar pricing offers we saw recently at $41.00/cwt., seem to be disappearing,” he said. “Even though the markets remain sluggish and prices remain flat.”


On the US East Coast, import rebar is reported at a slight premium to the US Gulf Coast at $43-46/cwt., depending on customer size, with the weekly SteelOrbis average steady at $45.00/cwt., ($900/nt or $992/mt). Importers point to reports of low August imports as a reason for the East Coast price premium over the Gulf.


“Imports remain at multi-year lows,” said a US Gulf Coast importer. “August arrivals into Texas were just about 50,000 tons, with the Northeast only receiving 10,000-20,000 tons,” he said. “Market chatter suggests scrap may trend higher later in Q3 and into Q4 as new rebar capacity from Hybar (AR) and Nucor SC increases mill requirements.”


In the import wire rod markets, wire rod offers in the Port of Houston are heard steady at $44-49/cwt., ($880- 980/nt or $970-1,080/mt) inclusive of tariffs, though most remain non-competitive compared with wire rod mesh trades heard flat for nearly three months at $42.50-43.50/cwt., ($850-870/nt or $937-959/mt).


“It remains very quiet,” said another Midwest-based importer. “Not much new is happening. There’s a few pending shipments of wire rod and rebar imports from some of the Turkish mills, though most report that they don’t want to be an “importer of record” right now because they don’t want to be accused of dumping products into the US.” He continued, “The (anti-dumping) situation is retroactive, so in effect you could bring supply into the US and two years later you could get a big bill after the (US Department of Commerce) reviews your records.”

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