Prices for hot-rolled coil in the United States surged after domestic mills raised offers while buyers continued to aggressively vie for the few available spot tons.
Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $89.53 per hundredweight ($1,790.60 per short ton) on Tuesday July 6, an increase of 2.33% from $87.74 per cwt on Friday July 2 and up 4.13% from $85.98 per cwt a week earlier. There was no index calculation on Monday July 5 because of the observed Independence Day holiday in...