UNITED STATES February 16 2016 5:21 PM
NEW YORK (Scrap Register): US HR coil prices remained flat during the week ended February 05, while major US stainless steel and steel scrap commodities prices on Scrap Register Price Index stayed stable.
According to TSI, daily HRC prices held steady during the week at $399 a short ton FOB Mill. After recent increases in steel prices market optimism seems to be fading due to a number of factors, including relatively stable scrap prices.
Some participants also noted the strength of the dollar and persistently low oil prices will likely to have an adverse impact on steel prices, while others claim demand from the automotive sector is forecast to decline in 2016.
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 researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to firstname.lastname@example.org)