US HRC Spot Prices Still Strong, Rebar Pricing Eases
Hot-rolled coil (HRC) spot prices in the US market maintained their rally late this week in a range of $1,010-$1,020 per ton for typical order sizes, according to market participants. But the spot price for rebar began to pull back for the first time in a while, they added, with rebar imports becoming more of a factor.
“Rebar spot prices are off about $10-20 per ton recently,” a fabricator told WSD. “Mills had successfully pushed up prices to above $950 per ton, but we’re now in the 930s and 940s.”
Another source noted there is ample rebar supply available with Hybar penetrating more of the market, and Nucor’s North Carolina micro mill ramped up. “Imports are also becoming more of a factor lately,” a steel trader added. “South Korea, for example, has been atypically active in shipping rebar to the US—usually they stick to flat products.”
In fact, total rebar import permits were up 229% in December over November final levels, according to the US Commerce Department’s Steel Import Monitoring and Analysis (SIMA). While import permits data reflect tonnages requested in applications for licenses to import steel and are not a count of actual import volumes, they can point to an eventual supply increase or decrease.
In the case of rebar headed to the US, that seems to be happening. SIMA also reported in December that South Korea had applied for permits for 205,000 nt, a 25% hike over November.
In fact, as we were getting ready to publish, the American Iron and Steel Institute (AISI) reported rebar imports were up 76% in January versus December, based on final Census Bureau data.
Sheet and strip all other metallic coated were up 52%, cold-rolled sheet (up 47%), hot-rolled sheet gained 28% and oil country goods plus 25%. A product with a significant increase in imports over the 12-month period February 2025 to January 2026 compared to the previous 12-month period was tin plate, increasing 13%.
Overall, AISI noted the US imported a total of 1,650,000 net tons (nt) of steel in January 2026, including 1,249,000 nt of finished steel, up 4.6% and 7.7%, respectively, vs. December 2025.
Total and finished steel imports, however, are down 46.3% and 45.9%, respectively, vs. January 2025. Over the 12- month period February 2025 to January 2026, total and finished steel imports are down 19.0% and 23.1%, respectively, vs. the prior 12-month period. Finished steel import market share was an estimated 15% in January 2026.
In January, the largest suppliers were South Korea (285,000 nt, up 71% vs. December), Mexico (235,000 nt, up 72%), Canada (218,000 nt, down 7%), Brazil (177,000 nt, down 31%) and Taiwan (73,000 nt, up 87%).
Over the 12-month period February 2025 to January 2026, the largest suppliers were Canada (4,094,000 nt, down 38% vs, compared to the previous 12-months), Brazil (3,717,000 nt, down 20%), South Korea (2,621,000 nt, down 11%), Mexico (2,586,000 nt, down 28%) and Taiwan (1,081,000 nt, up 4%).