Last week, SteelOrbis reported that US domestic CRC prices, which were heard at $38.50-$40.00 cwt. ($849-$882/mt or $770-$800/nt), ex-mill during the third week of July, had firmed by $1.00 cwt. on the bottom end, and by $0.50 cwt. on the top end, which brought the late-July spot market price transaction range to $39.50-$40.50 cwt. ($871-$893/mt or $790-$810/nt), ex-mill. This week, prices have steadied.
Sources close to SteelOrbis say they strongly believe that the Section 232 investigation “may have been delayed indefinitely,” adding that the lull in imports arriving in September and October is expected to keep US CRC prices from falling.
It’s further believed that flats mills will take advantage of that lull, another sources said, adding that it’s expected that US domestic flats mills may push for another price increase in early September.
In terms of imports, the most recently heard import CRC prices from Russia in the US domestic to hold at $33-$34 cwt. ($728-$750/mt or $660-$680/nt), DDP loaded truck in US Gulf coast ports.