Earlier this week, US domestic flat rolled steel mills announced they would be raising prices on all US flats products, including cold rolled coil (CRC), by a “minimum of $1.50 cwt. ($33/mt or $30/nt) effective immediately. None of the mills announced a new, minimum base pricing.
However, sources close to SteelOrbis have confirmed that while prices are currently unchanged week-over-week, and are still trending at $39.50-$40.50 cwt. ($871-$893/mt or $790-$810/nt), ex-mill, fewer import arrivals and the expectation of firmed US scrap prices during the September buy-cycle could help push domestic prices upward. In terms of import offers,
SteelOrbis has confirmed, as previously predicted, that prices have gone up by approximately $2.50 cwt. ($55/mt or $50/nt) since our last report a week ago.
One trader source said that while he’s most recently heard US import CRC prices in the US domestic market from Russia, Turkey and Australia at $35.50-$36.50 ($783-$805/mt or $710-$730/nt), DDP loaded truck in US Gulf coast ports, that “import prices are being evaluated daily due to price volatility within the global market.”