It would seem that US domestic cold rolled coil (CRC) prices have taken a page from the hot rolled coil (HRC) playbook this week, as they too are trending at soft sideways. The most commonly reported transaction range has held at approximately $38.00-$39.50 cwt. ($838-$871/mt or $760-$790/nt) ex-Midwest mill, according to sources, but deals closer to the bottom end of that range are becoming more and more prevalent. The trend is definitely down, according to one Midwest service center, and current pricing levels could soon be a thing of the past.
Meanwhile, Chinese prices have ticked down by about $0.50 cwt. ($11/mt or $10/nt) since our last report a week ago, while futures prices from India have held steady. At this point, trader sources say everyone is being mindful of their buys, especially since the fate of the domestic market is not yet fully clear.
Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
US domestic | ||||
Ex-Midwest mill | ||||
$38.00-$39.50 | $838-$871 | $760-$790 | down $0.50 cwt. on top end | |
$31.00-$32.00 | $684-$706 | $620-$640 | down $0.50 cwt. | |
$34.00-$35.00 | $750-$771 | $680-$700 | - | |
*DDP loaded truck in US Gulf ports | ||||