Prices for cold-rolled and galvanized steel sheet in the United States declined after automotive plants suspended production during the Covid-19 pandemic while most mills emphasized that their output continued unabated.
Fastmarkets' weekly price assessment for steel cold-rolled coil, fob mill US weakened to $37 per hundredweight ($740 per short ton) on Thursday March 26, from $38 per cwt ($760 per ton) on March 19.Fastmarkets' price assessment for steel hot-dipped galvanized (base) steel coil, fob mill US fell to $37.50 per cwt ($750 per ton) on Thursday from $38.50 per cwt ($770 per ton) a week earlier. Both items started 2020 at $39 per cwt ($780 per ton), indicating that the cold-rolled coil price lost 5.1% in the first quarter while galvanized dropped by 3.8%.Lead times generally ranged from five to seven weeks for cold-rolled coil and from...