Metal & Oil & Gas News –
United States hot rolled cold steel prices rose further by USD 7 a short ton or 1% WoW to USD 679 a short ton in the week ended August 01st.
According to TSI, US HR sheet prices in the Midwest region rose last week as a number of trades concluded close to the USD 680 a short ton mark. US GDP figures for Q2 were higher than expected at 4% on an annual basis with both household spending on consumers goods and the housing sector posting gains.
Economists predict both of those steel-end user sectors are expected to remain strong in H2, boding well for the industry as a whole.
Source – Scrap Register
