Spot market prices for US domestic cold rolled coil continue to trend in the range of $40-$42 cwt. ($882-$926/mt or $800-$840/nt), ex-mill; price points have remained stable since the beginning of the month.
However, questions about further upward price movement continue to abound due to this month’s uptick in US domestic scrap prices. SteelOrbis previously predicted that US flat rolled steel prices would drift up slowly into the end of Q1, with additional firming taking place in Q2. That expectation still holds.
Looking offshore, trader sources continue to report that interest in booking offshore remains light, due to the closeness in price points between US domestic and import CRC offers.