Prices for galvanized steel sheet in the United States slipped, reverting to the level of two weeks ago, while cold-rolled coil held steady for the fourth straight week, demonstrating that the two items are being outpaced by the price increases seen in hot-rolled coil.
Fastmarkets' weekly price assessment for steel hot-dipped galvanized coil (base), fob mill US fell to $34 per hundredweight ($680 per short ton) on Thursday June 4 from $34.50 per cwt on Thursday May 28. Fastmarkets' price assessment for steel cold-rolled coil, fob mill US was unchanged at $34 per cwt.Lead times varied from under four weeks to six or seven weeks for both items, according to market participant and mill lead-time summaries. North American steelmakers announced the two rounds of price increases - one on April 30 and May 1 and the second on May 21 - totaling as much as $5 per cwt ($100 per ton). Since the first hike, the Fastmarkets cold roll assessment has gained only $1.50 per cwt ($30 per ton) and galvanized is up by...