US domestic scrap prices trended down across the board during the June buy-cycle, and many within the
US domestic flat rolled steel market segment question how much, if any impact this will have on
US cold rolled coil (
CRC) spot market prices.
The most commonly reported spot price transaction range for
US domestic
CRC remains unchanged since our last report a week ago, at $41-$42 cwt. ($904-$926/mt or $820-$840/nt), ex-Midwest mill.
“No one wants to stock anything right now out of fear that prices could slide back,” one source said. “Fewer people are considering imports and they’re more dialed into domestic supply and they’re managing their inventories on a month-to-month basis.”
The most recently heard offers from offshore mills for import
CRC, put the
US sales price for Turkish and Vietnamese material at $34-35 cwt. ($750-$771/mt or $680-$700/nt). In terms of current offshore arrivals, June 7 data from the
US Department of Commerce, Enforcement and Compliance indicates that for the month of June, global
CRC arrivals to the
US have been recorded at 196,397 mt; in comparison, June 2015 import
CRC arrivals were recorded at 307,566 mt.