The most commonly heard spot market transaction range for
US domestic cold rolled coil (
CRC) has softened by approximately $1.00 cwt. ($22/mt or $20/nt) in the past week, which brings the current average price range to $39.50-$40.50 cwt. ($871-$893/mt or $790-$810/nt) ex-Midwest mill, but sources close to SteelOrbis have reported that deals slightly below this range have become increasingly prevalent on larger-sized orders.
“This isn’t unique to cold rolled,” one source said, adding that similar price softening has also been seen within both the
US domestic hot rolled coil and coated steel segments. It’s further believed that
US flat rolled steel mills may announce a price increase in early September, after the close of the Labor Day holiday weekend.
In terms of import pricing, that has remained neutral in the past week, with
US import
CRC from Turkey being heard at $31.50-$32.00 cwt. ($694-$705/mt or
$630-$640/nt), DDP loaded truck in
US Gulf coast ports, while
US import
CRC from Vietnam continues to trend at $29-$30 cwt. ($639-$661/mt or $580-$600/nt), DDP loaded truck in
US Gulf coast ports.