US CRC prices still holding their course

Thursday, 21 September 2017 22:01:49 (GMT+3)   |   San Diego
       

Spot market prices for US domestic cold rolled coil continue to remain stable, sources note, adding that there is an expectation that prices should remain steady through the close of the year.

“Mills are pushing for price hikes but buyers are resisting due to ample supply.  There’s also the general sense that inventory levels are higher than are being reported, which makes price increases unlikely,” a source said. “On the other hand, raw materials, like iron ore, are currently overpriced. That, combined with increased scrap flow in the upcoming months from the cars that will be junked due to hurricanes Harvey and Irma could place downward pricing pressure on scrap due to an increase in supply of shredded, which could impact the US steel market going into 2018.”

Current pricing for US CRC is unchanged week-over-week and is still holding at $39.50-$40.50 cwt. ($871-$893/mt or $790-$810/nt), ex-mill.

Looking offshore, import CRC prices in the US domestic market from Russia are still being heard at $34.50-$35.00 cwt. ($761-$772/mt or $690-$700/nt), DDP loaded truck in US Gulf coast ports, whereas offers from Turkey and Italy continue to trend in the range of $37-$38 cwt. ($816-$838/mt or $740-$760/nt), DDP loaded truck in US Gulf coast ports.


Similar articles

US sheet prices tick up modestly ahead of Easter weekend

28 Mar | Scrap & Raw Materials

Flat steel prices in local Taiwanese market - week 13, 2024

28 Mar | Flats and Slab

Ex-India HDG and CRC prices edge down, trade remains in doldrums

28 Mar | Flats and Slab

Ex-China CRC offer prices fail to recover amid futures price drop

27 Mar | Flats and Slab

CRC consumption in Mexico up 23.4 percent in January

26 Mar | Steel News

CRC import price offers stable in Brazil

25 Mar | Flats and Slab

Indian CRC prices stable amid thin trading and negative manufacturing outlook

25 Mar | Flats and Slab

Stocks of main finished steel products in China down 0.6 percent in mid-March

25 Mar | Steel News

US flats source believe HRC prices are “at or near the bottom”

22 Mar | Flats and Slab

Romania’s sole flats mill cuts HRC prices, raises HDG and PPGI prices

22 Mar | Flats and Slab