While US hot-rolled coil prices have remained below $23 per hundredweight ($460 per short ton), sources expressed hopes that higher ferrous scrap prices in May - as well as the potential restart of automotive production next month - could provide some relief in the market.
Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $22.69 per cwt ($453.80 per ton) on Wednesday April 29, up by 0.3% from $22.63 per cwt on Tuesday April 28 but down by 5% from $23.89 per cwt a week earlier on April 22.Lead times averaged about...