Hot-rolled coil prices in the United States rose above $98 per hundredweight ($1,960 per short ton) to a new record, with buyers projecting that an upcoming spate of mill shutdowns for maintenance will further tighten steel supplies.
Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $98.11 per cwt ($1,962.20 per ton) on Friday September 17, up by 0.57% from $97.55 per cwt on Thursday September 16 and by 1.32% from $96.83 per cwt one week earlier. Fresh inputs were received across all three sub-indices in a range of $94-100 per cwt, representing deals, mill offers, deals...