Hot-rolled coil prices in the United States are still below $24 per hundredweight ($480 per short ton), but potential good news from the ferrous scrap export market could help flat-rolled sheet mills to put a bottom line on prices, sources said.
Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $23.89 per cwt ($477.80 per ton) on Wednesday April 22, up by 0.5% from $23.76 per cwt on Tuesday April 21 but down by 4.1% from $24.92 per cwt a week earlier on April 15. Lead times averaged at four weeks, according to sources.In general, inputs were received in a range of approximately $22-26...