Hot-rolled coil prices in the United States rose for a third consecutive business day after market participants said tonnage on the spot market may be scarce for at least the duration of the summer.
Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $84.98 per hundredweight ($1,699.60 per short ton) on Tuesday June 22, an increase of 0.69% from $84.40 per cwt on Monday but down 0.31% from the all-time record of $85.24 per cwt one week earlier.Inputs representing confirmed deals, mill offers and general assessments of current spot market pricing were received in the distributor sub-index in a range of $81-88 per cwt. Inputs were carried over in the producer and consumer...