Hot-rolled coil prices in the United States achieved a new record high for the second consecutive day after market participants said that service centers need to restock, but mills are offering few spot tons.
Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $76.61 per hundredweight ($1,532.20 per short ton) on Tuesday May 11, a slight increase from $76.51 per cwt on Monday May 10 and up by 2.56% from $74.70 per cwt one week earlier. Inputs were received in the distributor sub-index in a range of $73-78 per cwt, including mill offers and general indications of spot market...