US HRC Steel Prices Drop Significantly to $623 a Short Ton in the Week Ending December 5


According to The Steel Index, United States hot rolled coil (HRC) average steel prices dropped significantly $17 a short ton week-on-week to $623 a short ton in the week ended December 5.

According to TSI, after a spate of trades, reported late at the week, were substantially lower than previously concluded deals, HRC steel prices index crashed $10 a short ton on Friday to $623 a short ton .

Delivery lead times were stable around the 4.5 week mark (from order). Despite the bearishness, there remain rumours in some circles of an imminent price increase announcement.

If successful, this would “stop the rot” and put steel producers in a much better position before the Q1 contract negotiations.