US domestic rebar price slips as sentiment erodes

Spot prices for steel reinforcing bar in the United States have softened on reports of lower transaction prices while market sentiment has shifted into more neutral territory, Fastmarkets has learned.

Fastmarkets assessed the price for steel reinforcing bar (rebar), fob mill US at $30.50-31.50 per hundredweight ($610-630 per short ton) on Wednesday March 4, down by 1.6% from $31-32 per cwt in the previous assessment.
Lead times for domestic material currently range from three to four weeks, sources said.
At the same time, Fastmarkets' assessment for steel reinforcing bar (rebar), import, loaded truck Port of Houston for immediate delivery rose to $595-620 per ton, an increase of 1.3% from $590-610 per ton previously.
US overview
Sources reported mixed views on current pricing and market dynamics, with the downside exerting more influence at present.

Some market participants said...

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