Yesterday, NMLK USA, AMUSA and Nucor Sheet Mill Group announced they would be raising spot market prices for US domestic cold rolled coil (CRC) by $1.50 cwt. ($33/mt or $30/nt), effective immediately.
Although many within the US largely believe that US flat rolled steel prices are primed to firm after the first of the year, many are now wondering if US CRC prices will firm in the short term, especially since US scrap prices are expected to settle up $5-$10/gt during the December buy cycle.
For now, US CRC prices are holding stable, at $38-$40 cwt. ($838-$882/mt or $760-$800/nt), ex-mill, while import CRC prices in the US domestic market Russia, Vietnam and Egypt are still trending between $34.50-$35.00 cwt. ($761-$772/mt or $690-$700/nt), DDP loaded truck in US Gulf coast ports.