US domestic cold rolled coil (CRC) producers are still rejoicing over last week’s final determinations announcement in the antidumping / countervailing duty case against certain offshore CRC producers.
The antidumping margins that have been levied against South Korean, Brazilian, and UK producers were substantial; and while AD margins against Russian and Indian producers were not as high, sources close to SteelOrbis believe “they’re high enough to keep the domestic mills happy.”
July 26 data from the US Department of Commerce, Enforcement and Compliance shows that in May 2016, the US imported 30,427 mt fewer CRC tons than it did one year prior.
Current US domestic spot market prices, which are continue to trend at $41-$42 cwt. ($904-$926/mt or $820-$840/nt), ex-Midwest mill are expected to sustain in the near-term, sources say.
“With all the trade cases, the US is turning into a protected market, which is exactly what the mills were gunning for,” one source said.
In terms of import pricing, trader sources are still reporting that US import CRC from Vietnam are available at a US sales price of $30-$32 cwt. ($661-$705/mt or $600-$640/nt), DDP loaded truck in US Gulf coast ports.