Last week, US domestic flat rolled steelmaker AK Steel announced they would be raising prices on all US flat rolled steel products, including US HRC, by $1.50 cwt. ($33/mt or $30/nt) effective with all new orders.
AK Steel has stood alone with their announcement; no other US flats mill has followed with an increase of their own.
Multiple sources close to SteelOrbis have since confirmed that pricing for US CRC is unchanged week-over-week and continues to hold at $39.50-$40.50 cwt. ($871-$893/mt or $790-$810/nt), ex-mill.
Current lead times, inventory levels and order activity fail to support higher prices, sources say, adding that AK Steel’s announcement was “ambitious at best,” especially since US scrap prices in the Midwest settled at sideways during the September buy-cycle.
Looking offshore, import CRC prices in the US domestic market from Russia and Turkey, which were previously heard in the range of $35.50-$36.50 ($783-$805/mt or $710-$730/nt), DDP loaded truck in US Gulf coast ports, have undergone some revisions.
Import CRC prices in the US domestic market from Russia are now being heard at $34.50-$35.00 cwt. ($761-$772/mt or $690-$700/nt), DDP loaded truck in US Gulf coast ports, while offers from Turkey and Italy are being heard in the range of $37-$38 cwt. ($816-$838/mt or $740-$760/nt), DDP loaded truck in US Gulf coast ports.