Cold-rolled and galvanized steel prices in the United States declined over the past week, with weakening end-market demand and September’s ferrous scrap settlement working in tandem to erode spot market prices.
Fastmarkets’ weekly price assessments for steel cold-rolled coil, fob mill US, and for steel hot-dipped galvanized (base) steel coil, fob mill US, both decreased to $37 per hundredweight ($740 per short ton) on Thursday September 12, down by 50 cents from $37.50 per cwt previously.
Cold-rolled lead times stood at four to eight weeks, sources said, while galvanized lead times were reported in a wide range of four to 10 weeks.
Demand appeared to be on a downward…