US cold-rolled coil and galvanized base prices have fallen to their lowest point in three-and-a-half years, with prices for value-added products catching up to declines already seen in the hot-rolled coil market.
Prices for both products have also declined for the fourth week in a row.Fastmarkets' weekly price assessment for steel cold-rolled coil, fob US mill, fell to $34 per hundredweight ($680 per ton), down 2.9% from $35 per cwt last week and down 8.1% from $37 per cwt a month ago.Galvanized prices dropped in tandem. Fastmarkets' weekly price for hot-dipped galvanized (base) steel coil, fob US mill, slipped to $33.50 per cwt, down 2.9% from $34.50 per cwt a week ago and down 9.5% from $37 per cwt last month.Cold-rolled and galvanized base prices...