US HRC Steel prices advance further to $669 a short ton

UNITED STATES April 21 2014 6:47 PM

NEW YORK (Scrap Register): United States hot rolled cold (HRC) steel prices advanced further by $15 a short ton or 2.3% week-on-week to $669 a short ton in the week ended April 11th this year, as per the latest figures released by the The Steel Index (TSI).

Another eventful week in the US steel market as steel producers announced a second round of price increases for strip products in as many weeks.

HR sheet prices were raised by $25 a short ton to bring list pricing closer to $685 a short ton for some producers.

As with the first price hike, buyers secured material $10-20 a short ton higher than previous levels with strong activity in the $665-670 a short ton range.

TSI’s daily Midwest index is now $48 a short ton (+7.7%) higher than the low seen on March 21, 2014.