Last week, SteelOrbis reported that US domestic CRC prices had softened to an average transaction price of $42.50 cwt. ($937/mt or $850/nt). Today, sources note the range has fallen to $40-$42 cwt. ($882-$926/mt or $800-$840/nt), ex-mill.
Current spot market prices are now lower than prices during the same reporting period last year, prior to Section 232, when US CRC spot market transactions were heard in the range of $41-$43 cwt. ($904-$948/mt or $820-$860/nt), ex-mill.
Looking offshore, offers from US import CRC in the domestic market from Russia, Vietnam and Mexico are trending between $39-$40 cwt. ($860-$882/mt or $780-$800/nt), DDP loaded truck in US Gulf coast ports. The average import price transaction range during the same reporting period in 2018, sources noted, was in trending between $37-$39 cwt ($816-$860/mt or $740-$780/mt), DDP loaded truck in US Gulf coast ports.
“We’re pretty much back where we started,” a Texas-based source said. “Right now, everyone is trying to be careful with what they’re buying, and how much they’re stocking, until the state of where the market is going to settle is clearer.”