US HRC Steel Price Drops to $488 a Short Ton; US Stainless Steel Scrap Price Remains Flat

2015-04-08

United States hot rolled cold (HRC) steel prices weekly dropped by $5 a short ton last week, while stainless steel scrap prices remained unchanged.

According to The Steel Index, United States hot rolled cold (HRC) steel prices weekly dropped by $5 to $488 a short ton last week.

Plenty of chatter in the market of a price floor is soon reached, but it seems that mills have to bear a little more pain with even lower bids and deals, especially for larger volume orders.

Tightness in domestic obsolete scrap supply may provide a boost for raw material prices, however, and in turn a cost-push element to any steel price recovery efforts in the coming weeks.

The prices of major stainless steel scrap commodities like 201 SS, 301 SS, 309 SS were unchanged last week.