US cold-rolled coil, galv prices rise despite buyers' fears of a market correction

Cold-rolled and galvanized steel prices continue to inch higher in the United States due to mill increases and despite buyer concerns that current lofty prices are not sustainable.

American Metal Market’s assessment for cold-rolled coil moved to $44.50 per hundredweight ($890 per ton) on Thursday February 1, up 1.1% from $44 per cwt previously and 6% higher than $42 per cwt on the dame date last year. Cold-rolled coil prices have not breached $44 per cwt in more than six years, since reaching $48 per cwt in May 2011, according to American Metal Market's price archives. A similar trend has played out with hot-dipped galvanized steel coil, with American Metal Market assessing base prices at $43.50 per cwt on February 1, up 1.2% from $43 per cwt previously and up 3.6% from $42 per cwt on the same date last year. Cold-rolled coil lead times average six to eight weeks...

Published

Michael Cowden

February 02, 2018

22:28 GMT

Chicago