Pricing for US import CRC has remained stable since our last report a week ago, but US domestic pricing has softened by $1.00 cwt. ($22/mt or $20/nt) on the top end during the same period.
Current offers for US import CRC in the US domestic market from Turkey, Australia, Egypt, Vietnam and Mexico are still coming in at $44-$45 cwt. ($970-$992/mt or $880-$900/nt), DDP loaded truck in US Gulf coast ports.
Domestic CRC, however, is now being heard at $49.50-$50.50 cwt. ($1091-$1113/mt or $990-$1010/nt) ex-mill; deals below this range are still said to be available for volume buyers.
Sources close to SteelOrbis have reported that there continues to be outlier pricing for US domestic offers, namely, transactions that are taking place slightly above and slightly below the current range, these transactions are the exception and not the rule.
“Prices seem to be all over the place these days,” a source said. “The only thing that’s remained stable is the fact that everyone feels the market will soon be primed for a correction. When you see what’s going on in the global market, US prices just don’t make sense.”