January Rebar Notes
Demand continues to be solid in the rebar market as January comes to an end, while at the same time supply is showing signs of noticeable improvement. There was a mill price increase announcement in January of $30/ton, which was beginning to take effect as we rolled into February. The price increase has not gained in all regions as of yet, but it remains in the discussions throughout the country. Scrap continues to show strength, aided by very difficult weather conditions in January, while imports continue to gain traction with the domestics pushing pricing higher. By most accounts January was a strong month to start 2026.
On the domestic side, most all mills still remain busy. Order books are full, and many mills are still “allocating” their tons from each cycle. However, most agree that the tightness the market saw in October and November has now subsided and the tons that the mills are supplying are able to meet the demand in what is typically a slower month. Items that previously had a 4–6-week lead time might now be on hand, or at worst, buyers will have to wait 2–3 weeks until a sourcing option opens availability. Mills remain busy enough to push a price increase narrative but are well aware that overall rebar supply may outpace demand moving forward.
On the import side, imports have gained traction in the market. While domestic mills looked to raise prices in the US in January, the global market remained flat. As such, the gap between import prices and domestic ask prices grew last month. With a growing value proposition for imports and heading into the springtime, several buyers appear to have taken advantage of future supply availability at fixed pricing. Look for import volumes to increase in the months ahead with rumors of multiple shipments concluded for Q1 production overseas for the states.
On the scrap side, January winter conditions gripped pretty much the entire country disrupting scrap flows and reducing supply. As such, scrap dealers are pushing a higher price narrative for February. Mills are quick to point out that the tight supply is weather-related and temporary. As such, mills are fighting the increases for this month arguing consistent demand. The majority expect another bump of $20/ton (+/- $10/ton) for February, which would mark the 3rd monthly increase. Trade begins today, and scrap will likely finalize close of business this week or early next week. We will update where it finally settles.
In the meantime, have a great start to your week!
