US CRC prices hold steady week over week

Thursday, 08 August 2019 23:33:11 (GMT+3)   |   San Diego
       

US domestic scrap prices may have settled up this month, but that hasn’t helped push US CRC prices any higher.  Today’s price points are consistent with levels seen seven days ago, when the average US CRC spot market price range was trending between $36-$38 cwt. ($794-$838/mt or $720-$760/nt), ex-mill.

What has changed, however, is that deals up to $2.00 cwt. ($44/mt or $40/nt) below this range, which were previously available to volume buyers, are becoming fewer and farther between.

“The big guys can still do a little bit better than someone who is just wanting to book a truckload,” a source said.  Trader sources have also confirmed that higher US prices have yet to stimulate a flurry of offshore buying activity. One source said he believes this is because the bulk of US buyers don’t think that higher US prices will last for long.

“We don’t think we’re at the top of the market yet, but we expect to get there in the near future,” a source said. “But we also think that prices will start to come down again somewhere between mid-September and early-October.”


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