US domestic, import rebar prices unchanged in quiet market; domestic demand remains slow-to-fair: sources

US domestic, import rebar prices unchanged in quiet market; domestic demand remains slow-to-fair: sources

Published by: Melissa VanDervort<>
26 Mar 2025 @ 20:18 UTC

US domestic and import rebar prices have been flat for over a month on Wednesday March 26, with sources reporting a hesitant market in a holding pattern, characterized by middling demand and uncertainty as the trade war ramps up between the US, Mexico and Canada.

Fastmarkets assessed the price of steel reinforcing bar (rebar), fob mill US at $39 per hundredweight ($780 per short ton) on Wednesday, flat since going up by 5.41% on February 12 from $37 per cwt on February 5.
Fastmarkets’ assessment of steel reinforcing bar (rebar), import, loaded truck Port of Houston for immediate delivery was $720-740 per ton ($36-37 per cwt) on Wednesday, flat since going up by 0.69% on February 26 from $715-735 per ton on February 19.
A rebar buyer said current domestic rebar demand in the market is well below expected seasonal levels for this time of year.
We are playing it close to [the] vest with all the [market] uncertainty and very slack demand [in the rebar and general construction industries], the buyer said. Demand is understandably lousy across the board with all the geopolitical challenges and crazy opposing global dynamics [in the market right now]. Rebar is a one-trick pony, and construction activity is just plain lousy right now.
The buyer continued, saying, We really need construction action to improve [in order] to start moving the [rebar] tons to the street. Cutting rebar prices will not move that needle. We have bid [on] a number of projects that are in the pipeline [and] ready to go, but there is no urgency to move the optional ones along. New awards and starts are scarce — and shipping activity on active jobs remains choppy. Bidding for new work has even slowed dramatically lately as well.
A rebar trader said that market uncertainty and fear over impending import tariffs have slowed the construction market to a crawl.
[Import rebar] customers are not willing to take [import] orders due to [Section] 232 tariff uncertainty, [and] they prefer to wait until [there is] more clarity on April 2, the trader said. Overall, the [market] uncertainty will likely lead to short-term volatility [in the rebar market], but a tariff decision [on] April 2 could dictate the long-term market direction. If [the tariffs are] imposed, [we] expect higher domestic prices and a restructuring of supply chains in the second quarter [of 2025].
The spread between shredded scrap and domestic rebar was $369.29 per ton on Wednesday, flat week on week after going down by 6.76% from $396.07 per ton on March 12, due to the monthly increase in the shredded scrap price.
Fastmarkets’ monthly assessment of the steel scrap shredded auto scrap, consumer buying price, delivered mill Chicago was $460 per gross ton ($410.71 per short ton) on March 12, up by 6.98% from $430 per gross ton on February 10.
Lead times remain at three to four weeks, sources said.