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US HRC Steel prices rise sharply to $650 a short ton

United States hot rolled cold (HRC) steel prices rose sharply by $10 a short ton week-on-week to $650 a short ton in the week ended November 14, as per The Steel Index.
 
According to TSI, HR coil steel prices in the US Midwest bucked the downward trend to rise 10 a short ton from one-week ago, as producer price increases began to take effect. 
 
A number of participants reported trades in and around the $650 a short ton mark, around $5-15 a short ton higher from last concluded levels. 
 
Bearishness still pervades raw materials markets and, with the holiday season around the corner, it will be interesting to see whether upward HR coil price momentum can be maintained.