The price correction that is currently being seen within the US domestic hot rolled coil (HRC) market has not spilled into the US cold rolled coil (CRC) spot market; thus, current ex-mill spot market prices continue to trend in the approximate range of $41-$42 cwt. ($904-$926/mt or $820-$840/nt), ex-Midwest mill.
Current mill lead times are trending at approximately six to eight weeks, sources note, adding that many buyers continue to show reluctance when it comes to stocking inventory due to fears that current spot market prices could be vulnerable to correction due to seasonal slowdowns combined with a forecast price dip within the US domestic scrap market during the July buy-cycle.