Fastmarkets’ daily steel hot-rolled coil index, fob mill US was calculated at $34.25 per cwt ($685 per ton) on Monday December 12, up by 0.74% from $34.00 per cwt on Friday December 9 and by 0.29% from $34.15 per cwt a week earlier.
Inputs were received in the buyer and seller sub-indices in a range of $33-35 per cwt, including deals, mill offers and assessments.
Heard in the market
The spate of price increases announced by multiple mills have stabilized hot band prices in the United States, market participants said.
Some sources expressed skepticism about how many active spot deals are being struck at around $35 per cwt, considering the approaching winter holidays and seasonal slowdown before the Christmas break.
Prices have stabilized, and US mills might announce another price increase before the end of the year
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