Prices for imported hot-rolled and cold-rolled steel coil in the United States surged to their highest levels in more than 12 years amid speculation that scarcity will drive prices higher still in the first quarter of 2021.
Import offers are selling out quickly because of "the perception of the market that the US mills are only going to be higher in February, March and April," a national distributor said. "The problem with imports is two-fold: first availability, and secondly price levels," an East Coast trader said. Fastmarkets' assessment for steel hot-rolled coil, import, ddp Houston was $920-960 per short ton ($46-48 per hundredweight) on Wednesday December 23, up 22.08% from $740-800 per ton on...