Hot Rolled Coil prices in US plunge by 4% to $32/ton i.e. ($640/ton) down from previous change of $33.25/ton($665 per ton) after ArcelorMittal USA reached to unsure labour deal with the United Steelworkers union.
Prices of steel have been slow throughout the summer season as the market expected possible strike action at ArcelorMittal and US Steel Corporation.
On the other hand In India steel giant Steel Authority of India (SAIL) has offered quantity discount in the range of Rs 750-2000/MT, currently the offer for HRC is coming at Rs 37400 (Ex-Ludhiana) for the material of Bokaro Steel Ltd.
Flat steel market in china has also declined on account of limited buying and market being stable for a period of four weeks, offers for HRC is at $650-660/short ton and that for CRC is at $760-770/short ton.
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