Prices for cold-rolled and galvanized steel sheet in the United States held steady while market participants gauged the impact of North American automakers resuming production and the pace of rebound in other steel-dependent manufacturing.
Two sheet mill sources said the recent round of price increases has mostly been accepted even though some distributors were slow to restock. For that reason, June volumes are projected to be better than May, and higher scrap prices will continue to support the hikes.Fastmarkets' assessment for steel cold-rolled coil, domestic Midwest, fob mill US was unchanged at $34 per hundredweight ($680 per short ton) on Thursday May 14. Fastmarkets' price assessment for steel hot-dipped galvanized coil (base), domestic Midwest, fob mill US was also unchanged at $34 per cwt on Thursday. Prices for both items had jumped in the previous assessment on May 7. Lead...