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HRC prices fall in US market
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It’s reported that the US steel sheet prices have dropped further this week, affected by RG Steel’s bankruptcy and uncertain scrap prices.
At present, the ex-factory prices of hot rolled coil (HRC) are at US$630~US$640/ton in the US market, falling by US$5/ton from a week earlier.
Industry sources said that the reduced steel output caused by RG Steel’s bankruptcy may help to stop the steel price dip in the short term; however, the market situation might be affected by the negative news.
Besides, the scrap prices have continued falling in the US market, causing buyers take wait-and-see towards the market.
Affected by these factors, it’s forecasted that the HRC prices may slide to US$600/ton in the US market in the near future.
News Date
6/7/2012 9:38:02 AM
reported by
Echo Huo
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