US HRC Steel prices drop to $642 a short ton in the week ended October 24

UNITED STATES October 30 2014 6:14 PM

NEW YORK (Scrap Register): United States hot rolled cold (HRC) steel prices dropped by $6 a short ton week-on-week to $642 a short ton in the week ended October 24, as per The Steel Index.

According to TSI, HR coil spot prices in the US Midwest continue to fall despite the US Dept of Commerce’s decision to revoke a 15-year old suspension agreement against Russian HR coil imports, which will see AD duties implemented on imported material from the region.

The market seemed undeterred so far, as TSI’s daily index declined a further $6 a short ton (1WC) to $642 a short ton.