US domestic, import rebar price stable amid muted demand; more domestic price increases expected_ sources
US domestic, import rebar price stable amid muted demand; more domestic price increases expected: sources
Published by:Melissa VanDervort<>
25 Jun 2025 @ 21:23 UTC
US domestic and import rebar prices were steady week on week on Wednesday June 25, with most sources reporting middling demand as domestic mills uphold price increases from earlier this month. Some market participants expecting further price hikes in the near term. Fastmarkets assessed the price of steel reinforcing bar (rebar), fob mill US at $42 per hundredweight ($840 per short ton) on Wednesday, flat week on week after going up by 7.69% from $39 per cwt on June 4.
Fastmarkets’ assessment of steel reinforcing bar (rebar), import, loaded truck Port of Houston for immediate delivery was $780-840 per ton ($39-42 per cwt) on Wednesday, steady week on week after rising from $720-760 per ton on June 4.
Following a flurry of price increases in early June, domestic prices rose sharply on June 11.
Rebar manufacturer CMC led with a price hike of $3 per cwt in a letter to customers on June 5, followed by Gerdau Long Steel North America on June 6 and Nucor on June 9, which announced matching increases on standard sizes.
Some market participants expect further increases to hit the domestic market in the near term.
In my opinion, the [domestic rebar] market will begin to rise to $45 [per cwt] by mid-July, a buyer said.
A second buyer agreed, saying that, despite underlying sluggish demand, It feels to me like another mill increase may be coming sooner than later. We see lots of opposing dynamics at play and continuing weaker demand, so we continue to play it fairly close to the vest.
[Domestic] supply here is quite tight in spite of continuing lackluster demand, because imports are exceptionally challenging and mostly absent [right now]. Commercial job awards have improved slightly lately, as we have seen a few contractors act on job quotes before they expire, because they are expecting higher prices to come as well, the second buyer added.
A trader said that persistent economic and political uncertainty continues to dampen the domestic market, and the June 4 implementation of the 50% Section 232 tariffs have effectively thrown the import market in limbo.
Despite price increases, construction demand is sluggish for this time of year, with buyers proceeding cautiously due to uncertainty over future tariff policy and weak job site activity, the trader said. Import offers are largely on hold as traders reassess landed costs under the new 50% [Section 232] tariff regime. Imports are non-competitive [right now] and most foreign producers are avoiding the US market until there’s more clarity.
The trader expects market unpredictability to continue in the near term, with the future forecast for rebar imports ambiguous at best.
Volatility is expected to continue through July as the market recalibrates around new costs, [trade] policy uncertainty and potential retaliation [tariffs] from trading partners like Mexico and Canada, the trader said.
The spread between domestic rebar and No1 heavy melt Chicago scrap was $558.75 per ton on Wednesday, steady since going up by 12.03% on June 11 from $498.75 per ton on June 4, due to the increase in the domestic rebar price.
Fastmarkets’ monthly assessment of the steel scrap No1 heavy melt, delivered mill Chicago was $315 per gross ton ($281.25 per short ton) on June 5, flat from May 9 and down by 11.27% from $355 per gross ton ($316.96 per short ton) on April 9.
Lead times are at three to four weeks, sources said.