US CRC market steady as it awaits potential trade case

The US domestic and import cold rolled coil (CRC) markets have kept their steady course since our last report a week ago, as many are speculating that “if” a trade case is coming, it won’t be for another 30 days.  Domestic prices are on par with where they were the first week in September, still at $38.00-$39.00 cwt. ($837-$860/mt or $760-$780/nt) ex-Midwest mill, although sources close to SteelOrbis say that deals slightly below that range may be available to certain customers.

In terms of offshore activity, some trader sources say they have an increased willingness to negotiate with Chinese mills for “quick ship” orders to West Coast ports only, although most others report they’re “not touching Chinese CRC with a ten-foot pole.” Brazilian mills have also held steady with offer prices since our last report a week ago, although sales reps seem to be ready and willing to deal with those who are looking to book hefty tonnages.