SteelOrbis sources have confirmed that spot market prices for US import 012 G30 coil have continued to soften since our last report two weeks ago. Current offers from Mexico and Korea are now being heard at approximately $58-$59 cwt. ($1,279-$1,301/mt or $1,160-$1,180/nt), DDP loaded truck in US Gulf coast ports and FOB Texas, respectively, against a range of $64-$66 cwt. ($1,411-$1,455/mt or $1,280-$1,320/nt), two weeks ago.
Offshore prices, traders note, are “essentially within spitting distance of domestic offers,” adding that uncertainties pertaining to market demand and the global economy have many service centers trending cautiously.