UNITED STATES June 27 2014 10:35 AM
NEW YORK (Scrap Register): United States hot rolled cold (HRC) steel prices declined by $7 a short ton or 1% week-on-week to $670 a short ton in the week ended June 20th this year, as per the latest figures released by the The Steel Index (TSI).
Spot prices in the US Midwest sheet market took a dive early last week, with TSI's daily index falling $7 a short ton on Monday.
A significant number of transactions took place around $670 short ton, although some deals closed a few dollars lower.
Whilst the pricing outlook remains bearish, participants are less sure of whether a total collapse or just a softening in prices is on the cards.