US domestic CRC prices start to level

Monday, 03 November 2014 19:21:10 (GMT+3)   |   San Diego
       

Last week, the most commonly reported spot price transaction range for US domestic CRC ticked down slightly to $36.50-$38.50 cwt. ($805-$849/mt or $730-$770/nt) ex-Midwest mill, and although the range has leveled out since, it has not exactly absorbed the recent “effective immediately” $1.00 cwt. ($22/mt or $20/nt) price increase rolled out by AK Steel and US Steel on all new orders. While order activity is still pretty good, according to SteelOrbis sources, the CRC market is facing not only the standard “end-of-year-slowdown”, but ample imports already arriving at the docks. 

In terms of futures offers, “Chinese mills are really settling back in with their pricing,” according to one source.  And at this point, traders are becoming a little more comfortable in placing orders, especially since all that talk of trade cases “seems to have been a lot of crying wolf.”

 

  Cwt. Metric Ton (mt) Net ton (nt) Change from last week
US domestic        
Ex-Midwest mill        
CRC $36.50-$38.50 $805-$849 $730-$750 neutral
         
Brazil*        
CRC $32.00-$33.00 $706-$727 $640-$660 neutral
         
China*        
CRC $31.00-$32.00 $683-$706 $620-$640 neutral
         
India*        
CRC $33.00-$34.00 $728-$750 $660-$680 neutral
*DDP loaded truck in US Gulf ports

 


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