US import cold rolled coil (CRC) prices from China have ticked down slightly in the past week, with a $1.00 cwt. ($22/mt or $20/nt) softening seen on the lower end of that range. Prices from India, however, have held steady, while trader sources say Indian mills are less likely to be flexible in offering deals. The widening of the Chinese range may be a play to entice US orders, especially since domestic pricing remains firm.
Meanwhile, US domestic spot prices have held at sideways for the fourth week in a row, with the most commonly reported transaction range still at approximately $38.00-$40.00 cwt. ($838-$882/mt or $760-$800/nt) ex-Midwest mill. Demand is steady, according to service center sources, although many are questioning how long current price points will hold. Scrap prices in the Chicago area are down this month, according to SteelOrbis sources, and prices could erode further for June. If scrap prices continue to tick down, softening within the CRC market could shortly follow.
| Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
| US domestic | ||||
| Ex-Midwest mill | ||||
| CRC | $38.00-$40.00 | $838-$882 | $760-$800 | neutral |
| China* | ||||
| CRC | $32.00-$34.00 | $706-$750 | $640-$680 | down $1.00 cwt. on low end |
| India* | ||||
| CRC | $35.00-$36.00 | $771-$794 | $700-$720 | neutral |
| *DDP loaded truck in US Gulf ports | ||||