UNITED STATES October 09 2014 6:05 PM
NEW YORK (Scrap Register): United States hot rolled cold (HRC) steel prices declined further by $4 a short ton week-on-week to $656 a short ton in the week ended October 03, as per The Steel Index.
According to TSI, US HRC prices slipped a few more dollars this week as steel producers reduced asking prices in a bid to secure orders.
There was a good deal of activity this week with most transactions in the $650-660 a short ton range, though deals were reported as low as $640 a short ton.
It will be interesting to see whether globally weak raw materials prices become the catalyst for reducing the disparity between US and international HR coil prices.