In the first week in June, the US' cold-rolled coil (CRC) and hot-dip galvanized steel (HGl) coil were still in a short supply, and the domestic prices were too high. The downstream buyers couldn't accept the increasing prices and refused to make orders at such crazy prices.

Some market specialists believed that if the shortage of automotive chips is alleviated, then the prices of sheet/plate may also increase further in the next quarter. Steel mills claimed that the supply will be in shortage in the fourth quarter as the demand from the automotive industry has increased.

Evaluation by professional institutions showed that till June 3, the prices of CRC and HGI coil have increased by about US$20/ton compared to last week, and the increase will not stop in a short time.