The US low-carbon (0.10% C) market appears to be on the verge of a sharp upward movement. In addition to having the market tightly controlled by a few suppliers, one supplier with a recently signed long-term agreement reportedly has to cover its January and February shipments to the buyer.
As a result, spot 0.10% C spot business was booked at $2.23-2.25 per lb, c.i.f. for small quantities and first-quarter fixed-priced sales were being offered a $2.30-2.35, which is about where the European market is.
US prices for 0.15% C are about 5¢ below the 0.10% C tag.