US hot-rolled coil index still above $25/cwt; 2nd mill increase not accepted

Hot-rolled coil prices in the United States have remained above $25 per hundredweight ($500 per short ton), but sources mostly agreed that the second price increase from domestic mills has not been well received by the market.

Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $25.18 per cwt ($503.60 per ton) on Friday May 29, slightly down from $25.21 per cwt on Thursday May 28 but up by 3.6% from $24.31 per cwt one week ago on May 22.
Lead times were reported around four weeks, according to market participants and mill estimates.

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