Hot-rolled coil prices in the United States fell a day after surging above $90 per hundredweight ($1,8080 per short ton) for the first time, with market participants predicting that any declines will be temporary.
Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $89.47 per hundredweight ($1,789.40 per short ton) on Thursday July 8, down 1.23% from $90.58 per cwt on Wednesday July 7 but up 2.26% from $87.49 per cwt a week prior. On Wednesday, the index climbed above $90 per cwt for the first time since Fastmarkets started assessing the market in 1960.Inputs were received in...