CRU: Longs Prices on the Rise as Buyers Restock

By CRU Principal Analyst James Campbell, from CRU’s Long Products Monitor

Steel longs prices have changed direction this month with rises now observed in many markets. Although underlying demand has improved in some regions it is still weak elsewhere. Buyers in many regions have restocked in the last month while producers exposed to scrap and billet have started to pass on higher costs, aided by tighter supply. Overall, the Global Long Products Price Indicator (CRUspi Longs) increased by +0.7 percent m/m to 159.4 in December 2019.