US hot rolled steel prices plunge to lowest level since June 1

Hot rolled steel prices in the United States fell to their lowest level since June 1, as mill prices decline and buyers hold on to limited orders.

The daily US hot rolled coil price fell $ 7.25 to $ 894. Decrease in HRC to its lowest level since June and 2.9% from July highs.

Suggestions may be adjusted based on market feedback throughout the week. Sales are forecast to be between $ 860 and $ 880 for September, but total volume will be limited. Despite potential bargains, service centers are limiting purchases and maintaining lower inventories.