Despite tepid demand from the residential housing and automotive sectors, the U.S. market for most long products appears to be relatively firm, with many sources expecting further price hikes in May on the back of increased raw material costs, tight supplies and low import levels.

Wire rod is in shorter supply than other long products, several industry sources said. And despite the turmoil in residential construction, most merchant and reinforcing bar markets remain relatively firm thanks to still-solid nonresidential and infrastructure construction markets, several buyer and mill sources said.

But some sources question whether new or future infrastructure projects might be scaled back or canceled because of diminishing tax revenue for state governments, the credit crunch and increases in the costs of building materials and fuel.

On the bar side, especially in commodity and some automotive grades, there is more availability than in some other steel markets, thanks in...