UNITED STATES July 28 2015 3:15 PM
NEW YORK (Scrap Register): US HR coil prices remained flat at $470 a short ton FOB Midwest mill in the week ended July 10 in line with the stainless steel scrap prices on Scrap Register Price Index.
According to TSI, daily US HR coil index remained flat the week at $470 a short ton FOB Midwest Mill.
The market took a few days to get back into its stride following the extended holiday weekend as participants returned to news of another price hike.
Platts reported US Steel announced a $40 a short ton increase on all new spot orders on Tuesday.
Market sentiment suggests many remain sceptical of the price hike being successful, owing to lacklustre demand over the summer period and weakness in global steel prices.
However, the prices of major stainless steel scrap commodities like 201 SS, 301 SS, 309 SS, 310 SS and 330 SS were unchanged 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)