Hot-rolled coil prices in the United States have surged above $94 per hundredweight ($1,880 per short ton) for the first time, after zooming past $93 per cwt on Wednesday July 28, with market participants projecting that the rally will not come to an end until late this year at the earliest.
Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $94.03 per cwt ($1,880.60 per ton) on Thursday July 29, up by 1.06% from $93.04 per cwt on Wednesday July 28 and by 3.02% from $91.27 per cwt on July 22.Inputs were received across all...