US HRC prices advance;US Stainless Steel, Steel Scrap prices stay stable

UNITED STATES February 01 2016 3:45 PM

NEW YORK (Scrap Register): US HR coil prices advanced during the week ended January 22, while major US stainless steel and steel scrap commodities prices on Scrap Register Price Index stayed stable.

According to TSI, Spot HR coil prices rose a few dollars week-on-week, closing Friday at $395 a short ton FOB Midwest mill. 

Some market participants believe the possibility of even higher prices is very real, given steadily slowing imports, lower service center inventories and rising delivery lead-times. 

For Live US Scrap Stainless Steel Prices Log on to Scrap Register

Others in the market claim spot prices moved “too low” in Q4 2015 and a price correction is due. Recent rises in scrap prices also may have incentivized steel producers to offset higher input costs.

The prices of major stainless steel scrap commodities like 201 SS, 301 SS, 309 SS, 310 SS and 330 SS showed a flat trend on Scrap Register US Price Index during the week.

However, the prices of major steel scrap commodities like #1 HMS, #1/#2 HMS 80/20 and steel casting also reported almost unchanged on Scrap Register US Price Index during the week.

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