Hot-rolled coil prices in the United States dropped further amid quiet market activities, but some are hoping that prices could be nearing a floor and that the market could improve in May, according to sources.
Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $24.38 per hundredweight ($487.60 per short ton) on Wednesday April 8, down by 1.2% from $24.68 per cwt on Wednesday April 7 and down by 21.1% since hitting a year-to-date high at $30.91 per cwt on January 15....