NEW YORK (Scrap Register): United States hot rolled cold (HRC) steel prices continued to rise by $5 a short ton or 0.7% week-on-week to $672 a short ton in the week ended July 18th this year, as per the latest figures released by the The Steel Index (TSI).
According to TSI, US HR coil prices edged upwards the week as news broke of the sale of Severstal’s North American assets to AK Steel and Steel Dynamics.
Market participants noted they anticipated very little impact on finished steel markets in the short term, though there is still an expectation in the market that steel producers will push for further increases in the coming weeks.