US hot-rolled coil prices have fallen below $25 per hundredweight ($500 per short ton) for the first time since the beginning of the month on what some sources said was short-lived quarter-end deal cutting - but others said might prove to be a more protracted downturn.
Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $24.92 per cwt ($498.40 per ton) on Thursday June 18, down by 1.5% from $25.31 per cwt on Wednesday June 17 and down by 2.4% from $25.53 per cwt a week earlier on June 11.HRC prices last slipped below $25 per cwt on June 1, when the index was calculated at $24.98 per cwt,...