Despite day-on-day stability in the US hot-rolled coil market, sources expect the steady uptrend in spot prices to continue due to the just-concluded ferrous scrap settlement.
Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $28.08 per hundredweight ($561.60 per short ton) on Friday December 6, flat from the previous day.Inputs were received at $26-30 per cwt. Market chatterAccording to sources, chief among the upward pressure points is December's ferrous scrap trade, with the steel scrap No1 busheling, consumer buying price, delivered...