The most commonly heard spot price transaction range for
US domestic cold rolled coil (
CRC) is still trending at $37-$39 cwt. ($816-$860/mt or $740-$780/nt), ex-mill.
Sources close to SteelOrbis, however, believe a second price increase is “imminent.” Some are surprised that
flats mills did not announce a second price increase this week.
“The general idea is that the Section 232 findings are going to throw a big wrench in imports, which is exactly what the domestic mills are hoping for,” one source said. “Once that comes out
flats mills are going to jump on the chance to push for a second increase.”
The findings in the Section 232 case are expected to come by the end of the month.