Hot-rolled coil prices in the United States weakened to the lowest level since July after more buyers stood on the sidelines, unwilling to accumulate inventory while mill pricing is on a downward trajectory.
Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $91.47 per hundredweight ($1,829.40 per short ton) on Tuesday November 16, a decrease of 0.32% from $91.76 per cwt on Monday and down 1.82% from $93.17 a week ago. Fresh inputs were received in all three sub-indices in a range of $90-92 per cwt, representing mill offers and general assessments of current spot-market pricing.Heard in the marketHot-roll prices extended their declines this week after market...