UNITED STATES June 13 2014 10:01 AM
NEW YORK (Scrap Register): United States hot rolled cold (HRC) steel prices dropped further by $6 a short ton or 0.9% week-on-week to $676 a short ton in the week ended June 6th this year, as per the latest figures released by the The Steel Index (TSI).
According to TSI, price declines in the US Midwest sheet market continued last week, despite impending maintenance outages planned over the summer period.
Many transaction prices for HR coil slipped $5-10 a short ton into the $670-680 a short ton range FOB mill.
It is unclear whether the outage caused by an incident at the No. 8 BF at US Steel’s Gary Works has the potential to stem current spot market declines.