The United States' domestic steel reinforcing bar prices were steady over the past week, with sources trying to absorb the mixed market signals of increased rebar demand and dropping prices for shredded scrap - rebar's key feedstock material.
Fastmarkets' assessment for steel rebar, fob mill US was $49.25 per hundredweight ($985 per short ton) on Wednesday August 18, unchanged from the previous week but up by 75.89% from $28 per cwt in August 2020.US marketA general outlook of befuddlement reigns at the moment, with most market participants trying to anticipate the next pricing move from steel mills."For the first time in 35 years, I have no idea what to make of this market," an eastern distributor source said. "It set up so much like 2008, and if that's the case it will...