US HRC Steel prices plummet; US Aluminum Scrap prices continue to stay flat

UNITED STATES November 06 2015 10:39 AM

NEW YORK (Scrap Register): United States HRC steel prices plummeted during the week ended October 23, while major US aluminum scrap commodities prices on Scrap Register Price Index continued to stay flat.

According to TSI, daily US HR coil index took a tumble the week to end Friday at $408 a short ton FOB Midwest Mill.

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A stronger dollar and lower-priced imports continue weight negatively on domestic finished steel prices in the Midwest.

This week AK Steel announced the idling of a portion of the Kentucky Works Plant, following the recent announcement by US Steel of its intention to idle their Granite City Works plant earlier this month.

This tightening in supply as well as the initiation of filed trade cases is the cause of optimism for some market participants who remain hopeful of an uptick in pricing come Q1 2016.

However, the scrap prices of 356 Auto Wheels, 5052 Alum Clip, 6061 Alum Extrusion, 6063 10-10 Extrusion, Al/Cu Rad with Iron, Al/Cu Radiator, Alum Breakage 50%, Alum Litho Sheets, Alum Old Sheet traded almost flat during the week.