US hot rolled coil prices have sunk to their lowest point in 12 years, while cold rolled coil and hot dipped galvanized prices now match levels seen during the Great Recession.
Steel First sister title AMM's price assessment for hot rolled coil has dropped to $17.75 per hundredweight ($355 per ton), down from $18.50 per cwt ($370 per ton) previously and off a whopping 42.3% from $30.75 per cwt ($615 per ton) a year ago.
Lead times were reported at two weeks or less from mini-mills and three to three and a half weeks from integrated mills.
Hot band prices have not plunged below $18 per cwt ($360 per ton) since December 2003, when they stood at $16 per cwt ($320 per ton), according to AMM records.
Cold rolled prices, meanwhile, sank to $24 per cwt ($480 per ton) from $25 per cwt ($500 per ton) and hot-dipped galvanized dropped to $27.50 per cwt ($550 per ton) from $28.50 per cwt ($570 per ton), both matching lows last seen in June 2009, AMM pricing records indicate
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