Hot-rolled coil prices in the United States have again fallen below $29 per hundredweight ($580 per short ton) due to low reselling prices at service centers pressuring those domestic mills that have some weakness in their order books, according to market participants.
Fastmarkets' daily steel hot-rolled coil index, fob mill US, was calculated at $28.75 per cwt ($575 per ton) on Friday February 14, down by 1.7% from $29.25 per cwt the day before and down by 3% from $29.64 per cwt a week earlier on February 7.Lead times at domestic mills vary remarkably between three and 10 weeks, according to sources and mill lead...