Prices for cold-rolled and galvanized sheet in the United States held steady after hot-rolled coil prices continued hovering in a narrow band for a two-week period.
Producers responded to the rangebound hot roll by attempting to raise prices on Thursday February 27. At least four mills issued customer letters announcing increases of $40 per short ton ($2 per hundredweight).Market participants debated the feasibility of steel price increases during a week in which US and overseas equity markets have undergone a historic sell-off due to uncertainty over the severity of the coronavirus contagion and its impact on economic activity. Some sheet buyers thought, at best, the new increases...