Will US CRC prices continue to rise?

Thursday, 25 July 2019 18:30:54 (GMT+3)   |   San Diego
       

Flats mills have rolled out a total of three $2.00 cwt. ($44/mt or $40/nt) price increases in the past month, and sources close to SteelOrbis have said that widespread belief that prices are on an upswing has helped spur order activity at the mills.

Lead times are starting to push out, a source said, adding that current lead times are hovering between 5 and 7 weeks.  It should further be noted that US scrap prices are forecast to rise during the August buy cycle, which many believe will help support higher CRC prices.

In terms of current spot market pricing, the range is mostly stable week-over-week, at $34-$36 cwt. ($750-$794/mt or $680-$720/nt), ex-mill, although buyers who are booking small tons are being quoted slightly higher.

 


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