US HRC prices drops to below $400 a short ton; US Stainless Steel, Steel Scrap prices remain flat

UNITED KINGDOM March 31 2016 10:35 AM 

NEW YORK (Scrap Register): US HR coil prices dropped to below $400 a short ton during the week ended March 04, while major US stainless steel and steel scrap commodities prices on Scrap Register Price Index remained flat.

Spot HR coil prices in the US Midwest edged a few dollars lower earlier this week to finish at $399 a short ton FOB Mill.

Both ArcelorMittal and Nucor raised sheet prices - the latter by $30 a short ton, with Platts reports claiming other steel producers were hoping to follow suit with similar price increases. 

These higher offer levels were yet to feed through into the latest spot price orders, thereby ensuring the index remained range-bound into the first week of March.

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.