US CRC spot market stabilizes after last week’s dip

Thursday, 11 April 2019 22:32:00 (GMT+3)   |   San Diego

Last week, SteelOrbis reported that the average spot market price for US CRC had dropped by $0.50 cwt. ($11/mt or $10/nt), to the range of $40-$42 cwt. ($882-$926/mt or $800-$840/nt), ex-mill. This week, prices have remained stable.

Sources close to SteelOrbis have reported that market conditions are mostly consistent with what was seen during the first week of April. Service center inventories are healthy and ex-mill order placement is only being considered on an as-needed basis, as lead times are short enough that buyers are unconcerned about their ability to get the steel they need.

Looking offshore, import offers from Vietnam and Russia are once again lateral, and have remained in the range of $37-$38 cwt. ($816-$838/mt or $740-$760/nt), DDP loaded truck in US Gulf coast ports; buyers continue to remain wary of booking offshore due to a belief that US prices will correct during the summer.


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