Prices for cold-rolled and galvanized steel sheet in the United States surged to record highs - capping an unprecedented 12 months of gains - with market participants watching the timing of automotive production resumptions for clues as to availability for the remainder of 2021.
Fastmarkets' weekly price assessment for steel cold-rolled coil, fob mill US achieved a new all-time high of $103.50 per hundredweight ($2,070 per short ton) on Thursday July 29, up from $101.50 per cwt on Thursday July 22. The assessment has jumped by 228.6% in a year. Fastmarkets' price assessment for steel hot-dipped galvanized coil (cold-rolled base), fob mill US climbed to $105 per cwt on Thursday from $103 per cwt a week earlier. Exactly 52 weeks ago, this assessment slumped to a more-than-four-year low of $31 per cwt. Since that time, the price has soared by 238.7%.Fastmarkets' weekly price assessment for steel hot-dipped galvanized coil (hot-rolled base), fob mill US...