Hot-rolled coil prices in the United States have remained modestly below $23 per hundredweight ($460 per short ton) while the market waits to see whether a round of mill increases will succeed in lifting prices - or at least in keeping them from falling farther.
Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $22.90 per cwt ($458 per ton) on Tuesday July 21, little changed from $22.94 per cwt on Monday July 20 and down by 2.4% from $23.47 per cwt a week earlier on July 14.Lead times range from two to six weeks, according to market participants and mill estimates.Heard in the marketInputs were received between $21.50 per cwt and $23.50 per cwt - a spread of $2 per cwt,...