US hot-rolled coil prices continue to hold steady just under $23 per hundredweight ($460 per ton) thanks to stronger-than-expected August scrap prices and despite fears of a potential fourth-quarter price drop.
Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $22.89 per hundredweight on Friday August 7, little changed from $22.90 per cwt on Wednesday and up by 1.6% from $22.53 per cwt a week earlier on July 31.Lead times are between three and six weeks, according to market participants and mill estimates.Heard in the marketPrice inputs were received at $22-24.50 per cwt. The lower end of that range represents large transactions (thousands of tons) and prices from...