US domestic cold rolled coil spot market prices have remained steady for the second consecutive week; sources close to SteelOrbis are still reporting the most commonly heard spot market price range at $41-$43 cwt. ($904-$948/mt or $820-$860/nt), ex-mill.
Offshore pricing is also steady week-over-week, trader sources said. As such, offers for US import CRC from Egypt, Turkey and Australia are still being heard at $37-$39 cwt ($816-$860/mt or $740-$780/mt), DDP loaded truck in US Gulf coast ports.
Domestic pricing, however, is expected to undergo an additional revision after scrap prices settle in February. Current speculation is that domestic flats mills will push for another $1.50-$2.00 cwt. ($33-$44/mt or $30-$40/nt) in the next several weeks. Although some question how much, if any, the still-pending decision on the Section 232 case is having on the market, others say the recent uptrend is more tied to current decreased import arrivals coupled with upticks in raw materials costs.