Hot-rolled coil prices in the United States vaulted above $97 per hundredweight for the first time, with mill shutdowns and robust demand seen prolonging the already extended rally, market participants said.
Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $97.06 per hundredweight ($1,941.20 per ton) on Friday August 27, up by 0.24% day on day and week on week from $96.83 per cwt.Fresh inputs were received across all three sub-indices in a range of $92-100 per cwt, representing deals, mill offers and general indications...