UNITED STATES July 15 2015 11:00 AM
NEW YORK (Scrap Register): United States hot rolled cold (HRC) steel average prices rose in the week ended July 03, while steel scrap prices on Scrap Register Price Index stayed flat.
According to TSI, US HRC index increased marginally at the beginning of the week but stayed steady at $470 a short ton FOB Midwest Mill, as the market quietened with the US public holiday on Friday approaching.
Market sentiment remains upbeat, with expectations of demand remaining stable through the summer.
However, with HRC prices in China and other regions of the world falling, it will be a challenge for US prices to increase without causing a rise in imports.
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 during last week.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to email@example.com)