Buyers in the US sheet market are putting off placing orders until after the July 4 holiday or potentially longer, market sources said Monday, because they are looking for more signs of market direction.
The Platts daily hot-rolled coil and cold-rolled coil price assessments remained flat on Monday at $625-$635/st and $820-$840/st, respectively. Both assessments are normalized to an ex-works Midwest (Indiana) basis.
"I think a lot of people loaded up on orders around mid-May in a bit of a panic based on where it looked like prices and lead-times were heading, but things became very quiet shortly after," a service center source said.
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