Spot market prices within the US domestic cold rolled coil (CRC) markets continue to trend soft since our last report a week ago. The current price range has widened from $34-$36 cwt. ($750-$794/mt or $680-$720/nt), ex-mill, to $33-$36 cwt. ($728-$794/mt or $660-$720/nt), ex-mill.
Sources question whether spot market prices, which have been historically soft during the summer months, will be able to hold stable. “I don’t think we’re at the bottom yet, but I think we’re close,” a source said. “I don’t think things will start to level out until August.”
News that AMUSA and US Steel plan to take blast furnaces offline indefinitely, sources note, may be a good first step in helping the spot market from falling much further.