Like all other flat-rolled steel products in the United States, coated products have also felt the burn from the Covid-19 pandemic with prices tumbling month on month.
While crude oil prices have dropped sharply and automakers have put their production in North America on pause, flat-rolled steel markets as a whole have been hurt - despite mills' efforts to cut production and capacity - and Galvalume is no exception.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $23.76 per hundredweight ($475.20 per short ton) on Tuesday April 21, down by 15.3% from $28.06 per cwt a month before and down by 23.1% from $30.91 per cwt, a year-to-date...