United States hot rolled cold (HRC) steel weekly average prices plummeted by $12 a short ton last week, while stainless steel scrap prices remained flat.
According to The Steel Index, United States hot rolled cold (HRC) steel weekly average prices plummeted by $12 a short ton week-on-week to $480 a short ton, a level some sellers are calling the bottom.
Sellers noted offer levels were now holding firm around the US$485/s. ton mark and that the market was close to the nadir.
Not that anybody had told buyers this – trading was sparse, as it has been over the past two weeks, with many service centres on the side-lines waiting to see the situation play out before showing their hand.
If the seller rhetoric was aimed at stoking market interest, it has failed to do so yet.
The prices of major stainless steel scrap commodities like 201 SS, 301 SS, 309 SS, 310 SS and 330 SS were unchanged on Scrap Register US Price Index during last week.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
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