US hot-rolled coil price sinks below $22 per hundredweight

US hot-rolled coil prices have tumbled below $22 per hundredweight - a level that some sources said was a bottom but that others think is only a layover on the way to sub-$20 per cwt.

Fastmarkets’ daily steel hot-rolled coil index, fob mill US was calculated at $21.89 per hundredweight ($437.80 per ton) on April 30, down by 3.5% from $22.69 per cwt on Wednesday April 29 and 6.4% from $23.38 per cwt on April 23. Prices had not fallen below $22 per cwt since they were assessed at $21.50 per cwt in late March 2016 - more than four years ago. Heard in the market Inputs were received at roughly $19-24 per...


Michael Cowden

April 30, 2020

21:10 GMT