US CRC pricing index points downward

Thursday, 03 October 2019 22:11:04 (GMT+3)   |   San Diego
       

Prices for US domestic cold rolled coil have softened once again, from $35-$37 cwt. ($772-$816/mt or $700-$740/nt), ex-mill to $35-$36 cwt. ($772-$794/mt or $700-$720/nt), ex-mill, and some sources have indicated a strong belief that deals up to $1.00 cwt. ($22/mt or $20/nt) are quietly available based on volume.

“Scrap is taking a nosedive, which isn’t helping the market any,” a source said. “It’s ugly out there. There’s not a lot of optimism in the market right now and we believe that the market still has room to soften more before it bottoms out.”

Another source echoed a similar sentiment. “I’m at the point where part of me wants to curl up under my desk, hide and suck my thumb until this is all over,” he said. “The market is taking a beating and the best we can do is wait for a turnaround.”

 


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