US cold-rolled, galvanized sheet prices steady before new increases

Prices for cold-rolled and galvanized sheet in the United States held steady after hot-rolled coil prices continued hovering in a narrow band for a two-week period.

Producers responded to the rangebound hot roll by attempting to raise prices on Thursday February 27. At least four mills issued customer letters announcing increases of $40 per short ton ($2 per hundredweight). 

Market participants debated the feasibility of steel price increases during a week in which US and overseas equity markets have undergone a historic sell-off due to uncertainty over the severity of the coronavirus contagion and its impact on economic activity. Some sheet buyers thought, at best, the new increases...

Published

Dom Yanchunas

February 28, 2020

22:10 GMT

New York