Prices for cold-rolled and galvanized steel sheet in the United States tumbled, partially catching up with the accelerating downturn in pricing for hot-rolled coil substrate, which has declined by more than 8% from its peak two months ago.
Fastmarkets' weekly pricing assessment for steel cold-rolled coil, fob mill US skidded to $104 per hundredweight ($2,080 per short ton) on Thursday November 18 from $108 per cwt on November 11. Fastmarkets' assessment for steel hot-dipped galvanized coil (cold-rolled base), fob mill US dropped to $104.50 per ton ($2,090 per ton) on Thursday from $108 per cwt a week earlier. Inputs were collected in a range of $100-108 per cwt for both items. Deals were reported in a range of $105.50-108.00 per cwt early in the weeklong pricing cycle, before mill offers dropped to the low end...