The most commonly heard spot price transaction range for
US domestic cold rolled coil (
CRC) continue to hold at $37-$39 cwt. ($816-$860/mt or $740-$780/nt), ex-mill; the sideways trend, which has continued over the past two weeks, has been attributed to recent price increase announcements in the
US flats market.
In early June, CSI, Nucor and NLMK USA all announced they would be raising prices on all flat rolled steel products, including
US CRC, by $1.50 cwt. ($33/mt or $30/nt), effective immediately.
Although the price increase announcement has failed to push prices upward, they have prevented further slippage within the
US CRC spot market, although market activity is currently trending light, according to sources.
In terms of import offers, as with last week, an ever-shrinking number of traders are continuing to offer
US import
CRC from Russia in the
US domestic market at $31-$33 cwt. ($683-$728/mt or $620-$660/nt), DDP loaded truck in
US Gulf coast ports, as most traders say they’ve stepped away from the market until the results of the Section 232 investigation become clearer.