The most commonly heard spot price transaction range for
US domestic cold rolled coil (
CRC)
continues to trend in the approximate range of $41.00-$42.50 cwt. ($904-$937/mt or $820-$850/nt), ex-Midwest mill, but sources close to SteelOrbis continue to report that some larger-tonnage deals are being transacted $0.50 cwt. ($11/mt or $10/nt) below the range.
And while some believed that
US flat rolled steel prices would continue to retreat slightly due to healthy inventory levels, other SteelOrbis sources say they’ve heard “early optimism” about scrap prices for the month of March.
“If scrap goes up during the March buy-cycle, it’s widely believed that
flats mills will push for another price increase,” the source said. “Demand is better and the wide-spanning optimism about the overall economy under the Trump administration is having a pretty big impact on the steel market.”