A free-falling domestic flat-rolled steel market has sent more pressure to the foreign mills that are shipping their steel products to the docks in the United States, resulting in further declines on prices of most imported flat steel products.
US hot-rolled coil prices crashed below $23 per hundredweight ($460 per short ton) this week despite an expected increase in ferrous scrap prices in May.Because the Covid-19 pandemic is unprecedented, sources said that the chance of a V-shape recovery for the US economy remains low. And until automotive plants...