Hot-rolled coil prices in the United States surged to an all-time high after more market participants grew concerned that a shortage of spot-market tonnage may endure for the remainder of 2021.
Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $85.98 per hundredweight ($1,719.60 per short ton) on Tuesday June 29, an increase of 1.46% from $84.74 per cwt on Monday June 28 and 1.18% from $84.98 per cwt one week earlier. Fresh inputs were received in a range of $85-91 per cwt, representing deals, mill offers and general assessments of current spot-market pricing. Data was received across all...