Prices for US domestic CRC continues to hold at $49-$51 cwt. ($1080-$1124/mt or $980-$1020/nt), ex-mill, and sources close to SteelOrbis are mixed on their opinions regarding which direction the market is heading. Some believe that prices are at or very close to their peak, while others feel that prices have topped out and will soon be vulnerable to correction.
Either way, most sources say that the domestic pricing situation will become clearer after May 1, when the Trump administration is set to make its decision on the Section 232 exemptions list. At current, it seems as if the administration is leaning toward import quotas for the countries that are on that list.
“All anyone can do at this point is fasten their seatbelts and hope that Trump’s next tweet doesn’t cause more chaos within the market,” a source said.