UNITED STATES April 08 2016 10:33 AM
NEW YORK (Scrap Register): US HR coil prices increased sharply by $10 a short ton to $421 a short ton during the week ended March 25, while major US stainless steel and steel scrap commodities prices on Scrap Register Price Index remained stable.
The price of US HRC rose the week to $421 a short ton FOB Midwest Mill following the latest price increases announced by steel producers.
Steel producers noted that a rise in scrap prices, due to tighter availability was one of the reasons for higher coil offers, whilst the recent price surge in iron ore and Asian steel were also cited.
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 email@example.com)