Pricing within the
US domestic cold rolled coil (
CRC) market may be “mostly stable” since our last report a week ago, at approximately $38.50-$39.50 ($848-$871/mt or $770-$790/nt) ex-Midwest mill, but several sources close to SteelOrbis continue to cite belief that volume buyers “wouldn’t have any problems getting a better deal.”
“Prices are soft, plain and simple,” one source said. “The floor on this downward drift probably hasn’t been hit yet and we’re likely to see additional adjustments before the end of the year.”
In terms of import offers,
CRC offer prices from Turkey are still being heard in the approximate range of $30-$31 cwt. ($661-683/mt or $600-$620/nt), DDP loaded Truck in
US Gulf coast ports. One trader source indicated he’s still hearing prices Vietnamese
CRC in the approximate range of $29-$30 cwt. ($639-$661/mt or $580-$600/nt), DDP loaded truck in
US Gulf coast ports; another trader source, however, said he’s received bids from Vietnam “at the top of, if not slightly above the Turkish range.”