The most commonly heard spot price transaction range for
US domestic cold rolled coil (
CRC) has inched up by an additional $0.50 cwt. ($11/mt or $10/nt) since our last report a week ago, which brings the current average transaction range to $40.50-$42.50 cwt. ($893-$937/mt or $810-$850/nt), ex-Midwest mill.
The top end of the above stated range is in line with the new, minimum base price set my ArcelorMittal USA (AMUSA) during the first week of January, when
flats mills announced their fifth consecutive price increase.
Lead times, according to SteelOrbis sources, continue to trend at approximately six to eight weeks.
And while some within the marketplace question the staying power of current spot market prices, which have risen by $6.50 cwt. ($143/mt or $130/nt) since mid-October, others point to increased economic optimism, which is linked to the election of soon-to-be President Donald Trump.
In terms of current import offers, trader sources have indicated that current offer prices for import
CRC in the
US domestic market from the Ukraine and Turkey are currently available in the approximate range of $34.50-$35.50 cwt. ($761-$937/mt or $690-$710/nt), DDP loaded truck in
US Gulf coast ports.
Sources close to SteelOrbis have said that while some traders are actively booking import
CRC from offshore mills, others have exhibited some reluctance, as Trump administration officials are evaluating the implementation of wide-spanning tariffs on products that are imported to the
US.