US HRC prices decline to all-time low of $380 a short ton

UNITED STATES December 03 2015 6:19 PM

NEW YORK (Scrap Register): United States HRC steel prices declined to all-time low of $380 a short ton during the week ended November 20, while major US steel and stainless scrap commodities prices on Scrap Register Price Index showed an almost flat trend.

According to TSI, US HR coil spot prices reached another milestone this week, falling to an all-time low since publication began in April 2006. The daily US Midwest index slipped US$7/short ton FOB Mill from one week ago to $380 a short ton. 

Activity picked up slightly this week with a number of concluded deals taking place between $375-385 a short ton with many participants of the belief prices could fall even lower. 

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Platts reported that the US Department of Commerce has delayed its preliminary determination ruling in the HRC anti-dumping investigation by 50 days to March 8, 2016. 

The impact of the ruling could help bolster sentiment in Q1 2016 if prices continue to remain moribund next year.

However, the prices of major stainless steel scrap commodities like 201 SS, 301 SS, 309 SS, 310 SS and 330 SS stayed flat on Scrap Register US Price Index during the week.

The prices of major steel scrap commodities like #1 HMS, #1/#2 HMS 80/20 and steel casting also reported almost flat trend on Scrap Register US Price Index during the week.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)