The current average spot price transaction range for US domestic cold rolled coil (CRC) continues to trend at approximately $24.50-$25.50 cwt. ($540-$562/mt or $490-$510/nt), ex-Midwest mill, although sources close to SteelOrbis say that deals slightly below this range are easily available to buyers who are looking to book larger tonnages.
“There just isn’t a lot of activity out there right now,” sources say. “Inventories are still pretty healthy and people aren’t buying anything unless they absolutely need it, and those people are few and far between.” Other SteelOrbis sources have noted that service and distribution centers in Texas continue to offer deals in preparation for the close of 2015, and in advance of the year-end-inventory-tax. Buyers have also expressed concern that ex-mill pricing has not yet hit a floor, which has caused many to be wary from booking tons from domestic producers.