While hot-rolled coil prices in the United States have remained largely steady day on day, sources anticipated a scrap- and demand-driven downturn in spot pricing as a result of the Covid-19 pandemic.
Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $27.15 per hundredweight ($543 per short ton) on Monday March 30, up by 0.3% from $27.08 per cwt on Friday March 27 but nonetheless off by 3.2% from $28.04 per cwt one week earlier on March 23.Inputs were received in a range of $25-29 per cwt, while lead times varied between four and eight weeks, according to market participants and mill lead time sheets. Heard in the marketDespite the...