US Spot HRC Steel prices fall 8% over the past 4 weeks

Feb 6, 2015 15:18

Source:SMM

A quieter end to the week in what has been a brutal month for US steel producers, with HR coil spot prices falling over 8% over the past 4 weeks.

UNITED STATES February 06 2015 10:35 AM

NEW YORK (Scrap Register): A quieter end to the week in what has been a brutal month for US steel producers, with HR coil spot prices falling over 8% over the past 4 weeks.

As per The Steel Index, the benchmark prices closed on Thursday at $554 a short ton, its lowest level since November 2010, as an oversupply of steel continues to circulate in the marketplace.

Some capacity closures were announced this week though this may only partially reduce the imbalance, with imports and supply chain inventories still of concern.

Little buying activity to note as the week progressed-for now buyers sit tight, well stocked.

For Latest US Scrap Prices Log on to Scrap Register

The prices of major steel and stainless steel scrap commodities were unchanged on Scrap Register US Price Index as on Thursday.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

US HRC steel prices

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US Spot HRC Steel prices fall 8% over the past 4 weeks

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