Recently, the US’s steel flat product market has continued to dip despite of rising raw material costs. The purchase has remained inactive in the US market.
It’s known that the prices of busheling scrap have soared by US$10~US$15/ton on the Eastern and Middle Western America in July. However, it seems not to stop the prices dip for the steel flat products.
At present, the spot prices of hot rolled (HR) and cold rolled (CR) steel are at US$770~US$795/ton and US$900~US$925/ton in the US market, down by US$22/ton respectively.
Furthermore, it’s predicted the prices of steel flat products would drop further in the US market in the coming weeks.
( Source: www.yieh.com )