UNITED STATES April 06 2016 3:03 PM
NEW YORK (Scrap Register): US HR
coil prices gained to $414 a short ton during the week ended March 18, while
major US stainless steel and steel scrap commodities prices on Scrap Register
Price Index showed a flat trend.
According to TSI, HRC prices in the US
Midwest strengthened a further $5 a short ton to finish the week at $414 a shot
ton FOB Mill.
Comments on the sidelines of Platts’ Steel
Markets North America event suggest that price expectations are bullish amongst
market participants.
The upbeat sentiment was driven by the recent HRC
trade cases taking effect but also the surge in both raw materials and finished
steel spot prices seen in Asian markets, diminishing the threat of imports. With
scrap prices in Turkey equally rampant, even higher domestic scrap and steel
prices remain a distinct possibility.
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.
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