As amm.com reports, prices for hot-rolled coils in the United States have shot up over $42.50 per hundredweight ($850 per short ton). And it doesn’t look like anything will stop them from reaching $45 per cwt ($900 per ton) or even $50 per cwt ($1,000 per ton).
Fastmarkets’ daily hot rolled steel coil index, fob mill US, was calculated at $42.53 per cwt ($850.60 per ton) on Friday December 4, a 1.31% increase from $41.98 per cwt on Thursday December 3 and a 9.05% increase from $39 per cwt before the Thanksgiving holiday.
U.S. hot band prices are now at their highest level since $42.68 per cwt on August 30, 2018 – more than 27 months ago – when prices soared amid the Section 232 market turbulence.
US hot-rolled coils lead times until March 2021
Lead times varied greatly depending on the individual companies and their business strategies. For example, one plant has yet to officially open its order books for 2021; another plant has already moved into February, either without being open for January or only temporarily; and still others are effectively in March, sources say.
Rising prices are not only supported by rising raw material costs and long lead times, but also by higher prices abroad and by – planned and other – failures in the North American supply chain.
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