UNITED STATES January 19 2017 4:34 PM
NEW YORK (Scrap Register): US HR coil prices shot up by $15 a short ton to $560 a short ton FOB Midwest Mill during the week ended December 09, while major US steel scrap commodities prices on Scrap Register Price Index continued to remain steady.
According to the Steel Index, US HRC prices increased again during the week and closed at $560 a short ton FOB Midwest mill.
With scrap prices rising, there is still a potential for a further increase in finished steel prices, however, the upward momentum is expected to slow as the market pushes back on higher offer levels.
However, the prices of major steel scrap commodities like #1 HMS, #1/#2 HMS 80/20 and steel casting showed an almost flat trend on Scrap Register US Price Index during the week.