Prices for steel rebar in the United States were steady for the moment, but market sentiment has become more mixed on reports that seasonal spring demand had yet to be heard or to provide a widespread boost to marketplace activity.
Fastmarkets' assessment of the price of US domestic rebar remained at $35.25-36.50 per hundredweight ($705-730 per short ton) fob mill on Wednesday April 3.At the same time, Fastmarkets' assessment of the price for imported rebar widened upward by $10 per ton to $670-700 per ton cfr Port of Houston.Winter hangover for some, spring demand for others"Customers are very slow to buy," one trader said. "Demand is softer than everybody expected."This source could not definitively say whether sluggish market conditions were the direct result of the cold and wet winter weather experienced by much of the country and the resulting effect on marketplace activity. Nonetheless, "prices are stable," this source said.Market participants mostly provided spot price estimates and buying activity within Fastmarkets' current range, but one rebar buyer said that the spot market price had declined to $35 per cwt."Mills still seem to be pushing buying activity," the buyer said, "but...