Prices for imported hot-rolled coil in the United States fell from the highest in more than 12 years, with buyers looking for deals amid speculation that prices will drop by the time cargoes arrive at American ports.
"A lot of consumers are shopping for their best deals, but the problem is inventory availability in some cases," a West Coast distributor said. Fastmarkets' assessment for steel hot-rolled coil, import, ddp Houston fell to $980-1,040 per short ton ($49-52 per hundredweight) on Wednesday February 3, down 5.6% from $1,040-1,100 per ton on January 20, its highest since it was $1,110-1,140 per ton in August 2008.Exporters in South Korea, Canada...