North American steel market prices continue to rise in July

MONTREAL (Scrap Monster) :  The North American steel price index saw an increase of 4.5% by end of July, indicating a rise in steel market prices during the month of July.

The CRU North American steel price index stood at 170.5 points, up by 7.3 points during the month of July. Late July, U.S. crude steel capacity utilization was 78.8 percent, up 2.7% from the previous month.

The US Midwest mill steel Plate prices continued to fall. However the fall in July was only 0.52% when compared to the fall of 3.26% during June. The plate prices at the end of July stood at $767 /t.

The hot-rolled coil, cold-rolled coil and hot-dip galvanized steel prices increased during July. The increase in prices was significant compared to the % increase during June. Hot-rolled coil prices increased by 6.70% month-on-month from $657/t in June to $701/t in July. The prices of cold-rolled coil saw an increase of 6.31% month-over-month from $777/t in June to $826/t in July. Hot-dip galvanized sheet prices increased by 5.48% month-over-month from $839/t in June to $885/t in July.

The hot-rolled coil, cold-rolled coil and hot-dip galvanized sheet had recorded a m-o-m increase of 2.82%, 1.97% and 1.70% respectively during June this year.

Author: Paul Ploumis