While offer prices for hot-rolled and cold-rolled coil heard in the US continued to climb, buyers on Wednesday were struggling to find spot availability.
Although the majority of prices referenced by sources approached or surpassed $600/st for HRC and $800/st for CRC, Platts maintained its daily assessments because it was unclear if mills were actually selling the higher-priced material due to closed order books or limited availability. Platts assessed HRC and CRC at $560-$580/st and $740-$760/st, respectively. Both prices are normalized to a Midwest (Indiana) ex-works basis.
ArcelorMittal set its prices for July production and shipment at $610/st for HRC and $800/st for CRC and hot-dipped galvanized sheet products. The prices were effective for open June and early Q3 production, the steelmaker said in a letter to customers.
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