Last week, SteelOrbis reported that US domestic CRC prices were trending in the approximate range of $38.00-$39.00 ($838-$860/mt or $760-$780/nt), ex-mill, although sources say a growing number of transactions are taking place toward the bottom end of that range.
This week, sources have confirmed that prices have, in fact, revised downward.
“Realistically, the market is trending somewhere between $36-$37 cwt. ($794-$816/mt or $720-$740/nt), ex-mill, although we’ve heard that deals of up to $1.50 cwt. ($33/mt or $30/nt) are available in the marketplace,” a source said. “I doubt anyone is paying more than $37 cwt. unless they’re desperate for a quick delivery.”