US Steel this week announced they would be raising prices on all carbon flat rolled steel by $40/nt effective immediately, but the announcement has done nothing to firm the spot market. Some market sources have said that in light of the downward pressure being placed on the East Coast scrap market, a trend that is being largely spearheaded by softening US export scrap prices to Turkey, that spot prices for US finished steel products could endure softening. Integrated mills face similar pressures for different reasons; iron ore is still cheap and activity within the US domestic energy pipe industry remains bland.
For now, however, US domestic prices continue to hold in the approximate range of $28-$29 cwt. ($617-$639/mt or $560-$580/nt), ex-Midwest mill. Trader sources say China is still trying to attract offers in the absence of the filing of an AD / CVD case, but interest remains weak.
| Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
| US domestic | ||||
| Ex-Midwest mill | ||||
| CRC | $28-$29 | $617-$639 | $560-$580 | neutral |
| Brazil* | ||||
| CRC | $25-$27 | $551-$595 | $500-$540 | neutral |
| Russia* | ||||
| CRC | $25-$27 | $551-$595 | $500-$540 | neutral |
| China* | ||||
| CRC | $25-$27 | $551-$595 | $500-$540 | neutral |
| *DDP loaded truck in US Gulf ports | ||||