As of mid-last week, US flats mills have officially reached full absorption of the price increase announcement they put out last month. The most commonly reported spot price range for US domestic cold rolled coil have firmed by an additional $1.00 cwt. ($22/mt or $20/nt) on the high end in the past seven days, which comes on top of a $1.50 cwt. ($33/mt or $30/nt) uptick in prices seen just seven days prior. SteelOrbis sources, though, say current inventory levels are healthy, and unless someone is in dire need of material, they’re holding off on making any significant buys.
Meanwhile, trader sources say quite a bit of previously booked CRC has started to arrive from China. And although the most commonly reported spot price range for Chinese and Indian CRC has held steady in the past week, offshore mills have indicated they too will be increasing offer prices in the near future.
| 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 | up $1.00 cwt. on the high end |
| China* | ||||
| CRC | $32.50-$33.50 | $717-$739 | $650-$670 | neutral |
| India* | ||||
| CRC | $35.00-$36.00 | $771-$794 | $700-$720 | neutral |
| *DDP loaded truck in US Gulf ports | ||||