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    February 13, 2020

    CRU: Mild Winter Creates Scrap Supply Surplus Amid Covid-19 Outbreak

    Written by Ryan McKinley

    Written by Senior Analyst Ryan McKinley. More in-depth regional analysis found in CRU’s Metallics Monitor.

    The CRU metallics price indicator (CRUmpi) fell by 8.9 percent m/m to 203.7 (see chart) following price falls in nearly every market. Supply outpaced demand due to mild winter conditions in much of the northern hemisphere. Key exceptions were Russian scrap and ore-based metallics prices, which rose m/m. The coronavirus Covid-19 is impacting steel markets, which threatens to weaken metallics markets over the coming month.

    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.

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