One day after dropping below $22 per hundredweight ($440 per short ton), hot-rolled coil prices in the United States have rebounded above $23 per cwt ($460 per ton) while domestic mills are reportedly staying firm on their latest price increase efforts.
Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $23.67 per cwt ($473.40 per ton) on Friday May 1, up by 8.1% from $21.89 per cwt on Thursday April 30 and up by 2.1% from $23.18 per cwt a week earlier on April 24.Most of the inquiries that mills...