Hot-rolled coil prices in the United States held above $78 per hundredweight for a third consecutive day, with buyers scrambling to acquire steel, market participants said.
Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $78.54 per cwt ($1,570.80 per ton) on Friday May 21, down 0.87% from $79.23 per cwt on Thursday May 20 but up 2.52% from $76.61 per cwt on May 14. Thursday's price was the highest since Fastmarkets started covering the market in 1960.Inputs were received across all three sub-indices in a range of $77-82 per cwt, representing confirmed deals, mill offers and general indications of spot...