US domestic CRC prices have continued to firm in the past seven days, from an average of $33.50-$34.50 cwt. ($739-$761/mt or $670-$690/nt), ex-mill, to approximately $36.00 cwt. ($794/mt or $720/nt), ex-mill. Deals slightly below this range are available based on volume.
In terms of import pricing, sources have confirmed that Vietnamese material is being offered at price points that are comparable to domestic mills’ offerings. US import CRC from Vietnam, for March delivery, is being heard in the range of $36.00-$37.00 cwt. ($794-$816/mt or $720-$740/nt), FOB Houston.
Sources close to SteelOrbis further speculate that US flats mills will announce another price increase in early December, after scrap prices settle. Current expectations have US scrap prices settling up by $20-$30/gt ($20-$30/mt) during next month’s buy cycle.