Hot-rolled coil prices in the United States dropped below $96 per hundredweight ($1,920 per short ton) for the first time since August, with rising inventories putting downward pressure on prices, according to market sources.
Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $95.47 per cwt ($1,909.40 per ton) on Friday October 15, down by 0.85% from $96.29 per cwt on Thursday October 14 and down by 1.36% from $96.79 per cwt one week earlier.Fresh inputs were received across the distributor and consumer sub-indices in a range of $94.00-96.50 per cwt, representing deals, mill...