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    Overseas

    October 17, 2019

    CRU: Dramatic Drop in U.S. Steel Prices Makes Imports Uncompetitive

    Written by Estelle Tran

    By CRU Prices Analyst Estelle Tran

    U.S. steel sheet prices have fallen faster in early Q4 than initially expected, as lower demand levels, economic uncertainty and another $30-40 /l.ton decrease in scrap prices in October guided steel prices down. The CRU Midwest HR coil price assessment on Oct. 16 was $507 /s.ton, down $64 from $571 /s.ton on Sept. 18. Declining domestic HR coil prices have made most offers for imported material outside of the NAFTA region unattractive, even from South Korea, which has no Section 232 steel tariff. Sources contacted said they did not have new import numbers for sheet because they viewed the spreads to be unattractive.

    Estelle Tran

    Estelle Tran is a senior analyst at CRU based in Pittsburgh. Estelle joined CRU as a steel and ferroalloy prices analyst in October 2017. She is the main contact for data providers who contribute to the CRU Midwest flat-rolled steel indices. She is also the editor of the Steel Monitor and analyzes the monthly service center inventories report for Steel Market Update. Prior to joining CRU, Estelle worked at S&P Global Platts, reporting on flat-rolled steel, long steel, primary aluminum and trade issues. She earned a B.A. in English writing and history from the University of Pittsburgh. Estelle is also past president of the Pittsburgh chapter of the Association of Women in the Metal Industries and the Northeast regional vice chair.

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