The most commonly heard spot price transaction range for
US domestic cold rolled coil (
CRC) may have held stable since our last report a week ago, at $41.50-$43.50 cwt. ($915-$959/mt or $830-$870/nt), ex-mill, although sources close to SteelOrbis have reported that volume buyers are still able to obtain deals up to $1.00 cwt. ($22/mt or $20/nt) below this range.
Lead times continue to trend at four to six weeks.
“Mills have shown an increased willingness to negotiate price,” a Midwest-based source said. “It’s causing a lot of confusion within the market, but it seems that the petals may be starting to fall off the rose. I don’t think anyone would be surprised to see some increased softness in spot market prices.”