CRU: Scrap Demand Remains Strong During Mild Winter

By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Metallics Monitor

The CRU metallics price indicator (CRUmpi) rose by 5.9 percent m/m to 223.5 (see chart) following price increases in nearly every market, the highest level since August 2019. Solid scrap demand has offset better than seasonally typical supply due to mild winter weather in the Northern Hemisphere. Pig iron demand from China is still robust, which supported prices despite an increase in availability from Ukraine.

Ryan McKinley

Ryan joined CRU in 2018 and is now the editor of the Steel Sheet Monitor. He also forecasts North American prices, production, demand, and trade for sheet and plate products in CRU's Steel Sheet and Plate Market Outlooks. Ryan has eight years of experience in steel market analytics, covering markets from steel metallics, steel long products, stainless steel, and now steel sheet and plate markets. Prior to joining CRU, he covered a variety of local North American scrap markets at Argus Media. He holds a BA in Political Science from Colorado State University in Fort Collins, Colorado, and an MA in Energy Politics in Eurasia from European University located in Saint Petersburg, Russian Federation. Ryan is based in Denver, Colorado.