Steel mills in the United States appear to be holding firm on hot-rolled coil prices after a round of price increases last week, but it remains to be seen if buyers are picking up tons at those levels.
Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $24.83 per hundredweight ($496.60 per short ton) on Monday May 4, up by 4.9% from $23.67 per cwt on Friday May 1 and 7.8% higher than $23.03 per cwt a week earlier on April 27. The index is currently at its highest since mid-April, when the price was calculated at $24.94 per cwt. The...