The rumors about a possible trade case filing against certain offshore producers of US import cold rolled coil (CRC); although many feel the “writing is definitely on the wall,” others are more dismissive, wondering if the latest round of rumors is more “crying wolf.”
This has placed the market in a weird limbo of sorts; few, if any are in a position where they need to buy anything of significance. Those who are venturing into the spot market are doing so carefully, and only as a means of filling holes in their inventory. “At this point everyone seems to be waiting around on the sidelines until there is a clearer picture of what’s actually going to happen.”
| 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 | $28-$29 | $617-$639 | $560-$580 | neutral with increased rumors of deals |
| India* | ||||
| CRC | $28-$29 | $617-$639 | $560-$580 | neutral with increased rumors of deals |
| Russia* | ||||
| CRC | $26-$28 | $573-$617 | $520-$560 | neutral with rumors of deals based on tonnage |
| China* | ||||
| CRC | $26-$28 | $573-$617 | $520-$560 | neutral with increased rumors of deals |
| *DDP loaded truck in US Gulf ports | ||||
In terms of prices, everything is mostly steady week-on-week, although some SteelOrbis sources have reported that US mills are trying to firm up prices within the current range, approximately $28.00-$29.00 cwt. ($617-$639/mt or $560-$580/nt) ex-Midwest mill, for smaller buyers.