Last week, SteelOrbis reported that US domestic CRC prices had revised downward, from an average of $36-$37 cwt. ($794-$816/mt or $720-$740/nt), ex-mill, to an average of $35-$37 cwt. ($772-$816/mt or $700-$740/nt), ex-mill. This week, price points have remained stable.
What is of interest, sources note, is widespread rumors that flats mills may soon push for another price increase. Yesterday, SteelOrbis reported that domestic scrap prices are expected to trend upward during the March buy cycle. It’s believed that flat rolled steel producers may use higher scrap prices as justification to increase CRC prices.