American Metal Market’s hot-rolled coil index
stands at $45.78 per hundredweight ($915.60 per ton), up 0.6% from $45.52 per cwt previously and up 4% from $44.03 per cwt at the beginning of the month - when the US unexpectedly hit Canada, Mexico and the European Union with Section 232 tariffs
, 25% in the case of steel.
Prices are also up 52.6% from $30 per cwt a year ago and at their highest point since October 2008, when the assessment touched $46.50 per cwt - a number that US mills now are targeting once again.
Lead times are in a wide range between four and nine weeks, sources said.
Deals were still available at...