Assuming the preliminary ruling is upheld, China, Japan, Brazil, the U.K. and Russia are all but eliminated from exporting CRC to the US. The availability of CRC has tightened dramatically in recent weeks as evidenced in the CRC – HRC spread that has ballooned to uncharted territory in the $150-$160/st levels. The announcement was a positive surprise for the domestic steel mills and the industry is buzzing about how it will affect pricing and availability over the short and medium term.