Prices for US domestic CRC are once again steady, at $49-$51 cwt. ($1080-$1124/mt or $980-$1020/nt), ex-mill, but sources close to SteelOrbis say they believe that prices could resume an uptrend once the Trump administration finalizes its decision with regard to Section 232 quotas.
“The dust is still settling,” a source said. “It looks like quotas are going to be the law of the land, which could put us in a place where there are shortages toward the end of the year, which would inevitably drive prices up.”
Offshore quotes, and quotes from Mexico, have all been pulled. Trader sources say mills in other countries are currently evaluating 2017 shipping volumes and are trying to determine their next steps forward.