Hot-rolled coil prices in the United States retreated for the third consecutive business day after market participants said buyers are comfortable with current inventory levels while some mills are expected to release more tonnage to contract and spot customers.
Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $97.39 per hundredweight ($1,947.80 per short ton) on Tuesday October 5, a decrease of 0.29% from $97.67 per cwt on Monday and down by 0.65% from $98.03 per cwt a week earlier. Fresh inputs were received in the distributor and consumer sub-indices in a range of...