US domestic CRC prices have continued to firm since our last report a week ago, from approximately $37.00-$37.50 cwt. ($816-$827/mt or $740-$750/nt), ex-mill, to an average of $38.00 cwt. ($837/mt or $760/nt), ex-mill.
Current price points are down by approximately $5.00 cwt. ($110/mt or $100/nt), year-over-year. However, this week’s prices are up by approximately $7.00 cwt. ($154/mt or $140/nt), from levels heard in late October, when the average CRC spot market price was heard at $31.00 cwt. ($683/mt or $620/nt), ex-mill.
Sources continue to question how long higher prices will last, as end-use demand is “not great.” However, if US scrap prices continue to rise in January, as is expected, it’s suspected mills may try for another increase in the upcoming weeks.