US cold-rolled coil, galvanized steel prices keep rising in new year

Prices for cold-rolled and galvanized steel sheet in the United States climbed during the first week of 2021 after customers on the prowl for spot material came up mostly dry yet again. The new year ushered in the 22nd consecutive week of gains for one hot-dipped-galvanized metric.

Fastmarkets’ weekly price assessment for steel cold-rolled coil, fob mill US rose to $58.50 per hundredweight ($1,170 per short ton) on Thursday January 7 from $57.50 per cwt on December 31, 2020. The assessment has gained 88.71% since commencing its rebound from the 2020 low of $31 per cwt in August, and now stands at its highest since the price peaked at $62.25 per cwt in May 2008. Fastmarkets’ price assessment for steel hot-dipped galvanized coil (cold-rolled base), fob mill US increased to $59 per cwt ($1,180 per ton) on Thursday from $58 per cwt a week earlier. The assessment is now up for the 22nd week in a row, gaining 90.32% during that period. Fastmarkets’ price assessment for steel hot-dipped galvanized coil (hot-rolled base), fob mill US similarly rose to $59 per...

Published

Dom Yanchunas

January 08, 2021

21:21 GMT

New York