NEW YORK (Scrap Register): United States hot rolled cold (HRC) steel prices declined sharply by $7 a short ton week-on-week to $671 a short ton in the week ended September 05, as per The Steel Index.
According to TSI, HRC steel prices trended downwards last week as steel producers lowered offers to attract bookings.
Spot HR coil traded around the $675 a short ton mark early last week and slipped closer to $670 a short ton on Friday.
Flat steel imports are at unprecedented highs as are HR coil price spreads between local and international material; both factors likely to pressure domestic spot prices in the near-term.
