Prices for cold-rolled and galvanized steel sheet in the United States climbed after market participants reported that mills, enjoying lengthy backlogs, increased their offers during the week to Friday April 16.
Hot-dipped galvanized prices resumed their upward march on Thursday April 15 after a 34-week streak of increases was broken a week earlier. While some mills appear to be catching up on tardy shipments, buyers reported detecting no relief from lead times that can be three months or longer for spot material. Fastmarkets' price assessment for steel cold-rolled coil, fob mill US rose to $78 per hundredweight ($1,560 per short ton) on April 15 from $77 per cwt on April 8. The assessment has now doubled in just over six months and has gained 151.61% since...