US HRC Steel prices up to $457 a short ton; US Steel Scrap remains flat

UNITED STATES June 02 2015 6:35 PM

NEW YORK (Scrap Register): United States hot rolled cold (HRC) steel average prices rose in the week ended May 22, while steel scrap prices on Scrap Register Price Index stayed flat.

US HRC steel weekly average prices rose by $3 a short ton week-on-week to $457 a short ton FOB Midwest mill during the week, as per latest figures from The Steel Index.

The daily US Midwest index fluctuated between $455-460 a short ton FOB Mill the week – the range a few dollars higher than one week ago.

Notably, average delivery lead-times recorded by TSI rose above the 4-week mark for the first time since early January. This could be an indication of two things: an up-tick in orders and/or signs that mill supply and market demand are better balanced.

Participants will become clearer on the future direction of the market when there is a resolution on the recently filed trade cases. Until then, some uncertainty prevails.

However, the prices of major steel scrap commodities like #1 HMS, #1/#2 HMS 80/20 and steel casting were steady on Scrap Register US Price Index in the week.