CRU: When Will HR Coil Prices Peak?

Steelmakers in the U.S. have now announced their second $40 /s.ton price increase for sheet products. At CRU, we have been expecting the recent downward price cycle to turn and have been advising clients of this through our market conversations as well as Market Outlook services.

Initial fundamental support for higher sheet prices came both from rising seasonal demand and lower available supply. Since late January, however, the prospect of higher steelmaking costs is also providing further, more noticeable support. Our forecast calls for prices to rise in the near term, though the duration of increases may be measured in months, rather than quarters.

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