Hot-rolled approaches another new high in US

US hot-rolled appears to be inching toward a new all-time high, Kallanish hears from market sources. 

A source at one top-tier domestic mill has moved up quotes up to $1,700/short ton, due to “success in booking volumes” above the previous range of $1,640-1,675/short ton. 

Cold-rolled and galvanized substrate has likewise increased to as high as $1,900/st, he says. 

A Midwest buyer says he is adopting a wait-and-see attitude before the next round of index pricing is released, but he expects it will exceed previous ranges. 

Kallanish raised its hot-rolled price Monday to $1,650-1,700/st, with cold-rolled holding at $1,850-1,900/st. All prices are ex-works, domestic mill.

Dan Hilliard USA