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US HRC Steel prices edge up to $466 a short ton; US Steel Scrap remains flat

United States hot rolled cold (HRC) steel average prices edged up to $466 a short ton in the week ended June 26, while steel scrap prices on Scrap Register Price Index stayed flat.

Acording to The Steel Index, US Midwest HR coil prices closed marginally higher the week with some signs that the market may be creeping upwards after being steady for much of June.

A handful of transactions concluded during the week between $460-470 a short ton, however, there was deal activity recorded above this range.

Participants remain skeptical of prices higher than these levels gaining traction, especially with the upcoming holiday in early July expected to bring about a slowdown in trade.

However, the prices of major steel scrap commodities like #1 HMS, #1/#2 HMS 80/20 and steel casting were steady on Scrap Register US Price Index in the week.