While US domestic CRC prices held stable last week, sources tell SteelOrbis that the price trend is pointing clearly upward, and more mill price increase announcements could be on the horizon. This week, US domestic CRC spot prices are in the range of $42-$43.50 cwt. ($926-$959/mt or $840-$870/nt) ex-mill, reflecting an increase of $0.50 cwt. ($11/mt or $10/nt) on the top end of the range since last week.
However, sources also say that interest in import offers is "booming," and with a gap between import and domestic CRC prices that spans between $5-$10 cwt. ($110-$220/mt or $100-$200/nt), depending on the offshore source, some within the market are skeptical of how long US flats mills can sustain their current strategy of frequent price increases.