US hot-rolled coil index dips on pre-increase discounting

Hot-rolled coil prices in the United Stated moved lower on Friday May 22 due to last-minute discounts still being offered immediately after mills announced price hikes on Thursday May 21, market participants said, raising the question of how effective the new increases can be.

Fastmarkets’ daily steel hot-rolled coil index, fob mill US was calculated at $24.31 per hundredweight ($486.20 per short ton) on Friday, down by 2.5% from $24.93 per cwt on Thursday and down by 1.5% from $24.69 per cwt a week earlier on May 15. Lead times were between three and four weeks, according to market participants and mill lead time sheets.  Heard in the market Inputs were received in...

Published

Muyao Shen

May 22, 2020

22:23 GMT

New York