Last week, ArcelorMittal and AK Steel Corporation have both announced they would be raising spot market prices on
US domestic cold rolled coil (
CRC), effective with all new orders.
Although many were shocked that ArcelorMittal set a new, $40.00 cwt. ($882/mt or $800/nt) base-price for
US CRC, as the last week’s average spot market price transaction range was trending at approximately $35-$36 cwt. ($772-$794/mt or $700-$720/nt), ex-Midwest mill, that increase has “just about been accepted.”
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Current ex-Midwest mill spot market prices for
US domestic
CRC are now being heard at approximately $39-$40 cwt. ($860-$882/mt or $780-$800/nt.)
“It’s amazing how quickly prices went up but we all figured the dumping suits would eventually have an impact on the market,” one Texas-based source said.
“Futures availability is still pretty tight and at this point,” another source added, noting a belief that the run-up on prices could last through August or September, if not the end of the 2016. “We’d be crazy to think that mills won’t try to keep the upward pricing momentum as long as they can.”