NEW YORK (Scrap Register): United States hot rolled cold (HRC) steel prices continued to decline by $4 a short ton or 0.6% week-on-week to $682 a short ton in the week ended May 30th this year, as per the latest figures released by the The Steel Index (TSI).
According to TSI, the downwards trend continued in the US market as HRC index slid to $682 a short ton.
To compete for orders in the market with readily available domestic material and lower-priced imports, mills were forced to reduce their offers. Increasingly spot deals were being concluded near the $680 a short ton mark.
Source: Scrap Register