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Market Commentary and HRC Index Indicators.
AMM's hot-rolled coil index inched upward by 1 cent per hundredweight (20 cents per ton) as steel mills succeeded for one more week in holding firm on their July price increases.
The hot-rolled coil index settled at $31.29 per cwt ($625.80 per ton), from $31.28 per cwt ($625.60 per ton) on Aug. 3.
Some market participants were surprised that hot band has not declined in August. President Donald Trump's administration has failed to deliver a Section 232 action so far this summer and signaled that it may not come until autumn or 2018-or may not happen at all. But global input prices are rising, and import volumes have been weak due in part to the Section 232 investigation.
"Coil is holding its ground. It's not receding," a electric-resistance-welded tube mill source said. "The coil mills are...