Hot-rolled coil prices in the United States have achieved their highest level since September 2008 after a limited release of spot tonnage - offered at $50-51 per hundredweight ($1,000-1,020 per short ton) - provided a glimpse of things to come when order books eventually open again.
Fastmarkets' daily steel hot-rolled coil index, fob mill US rose to $49.74 per hundredweight on Tuesday December 22, up slightly from $49.67 on Monday December 21 and 7.1% from $46.44 per cwt a week prior. Inputs were received in a range of $47.50-51.00 across all three sub-indices, with fresh deals confirmed at the lowest and highest ends of that range. Other data represented...