• Skip to main content

    Overseas

    March 13, 2020

    CRU: Covid-19 Impacts on Steel Spread to Rest of World: A Status Update

    Written by Paul Butterworth

    By CRU Analyst Arshiya Sibia and Research Manager Paul Butterworth, from CRU’s Steel Monitor

    Current information from our China team shows that steel demand is closely tracking our base case forecast for the impact of Covid-19, though steel production remains slightly higher than we had forecast. While our forecast was for steel demand to return to normal end-April/early-May, developments outside China may now put this at risk. These relate both to rising numbers of Covid-19 infections that will impact the availability of labor, but also supply chain issues that will impact end-use activity. For example, our analysis shows that China accounts for a major proportion of global exports of both machinery and electronics, as well as grinding balls. Shortages of electronic components are already impacting auto production in India and supply chains globally are also becoming increasingly distressed.

    Paul Butterworth

    Read more from Paul Butterworth

    Latest in Overseas

    Price on Trade: Steel’s zero-sum game

    During the first three quarters of 2026, finished steel imports from South Korea increased 50.8% compared with the same period in 2025. Imports from Vietnam increased 23.4%, imports from Turkey increased 49.5%, and imports from India increased 29.5%. Those are not marginal increases. They are substantial import surges, especially in a US market where apparent domestic consumption has bounced around but has not grown since 2017. More importantly, these import surges are arriving at lower average unit values (AUVs).

    Commerce updates duties on Japanese HR

    The US Department of Commerce has adjusted anti-dumping duties on imports of hot-rolled flat steel products from Japan. The adjustment has lowered duties for one company but raised them for others. Commerce made the adjustments in the final results of an administrative review of the year ended Sept. 30, 2024. The agency set a final weighted-average dumping margin of 13.96% for Nippon Steel companies. This is lower than the company’s previous rate of 29.7%.

    The words "Aluminum Market Update" in white against a dark blue background

    AMU: Edward Meir’s week in review and thoughts for the week of Oct. 12, 2026

    Base metals had a mixed week. Tin lost almost 4% on the week, finishing at $53,000/ton. Prices dropped to a low of $51,259/ton at one point. Aluminum was another loser, off by about 1.6% on the week. Investors are expecting more aluminum supply going forward, especially out of China and Indonesia. Copper prices tacked on 1.1%. They have now recovered more than half of the $700/ton loss sustained (over the course of a week) following reports/rumors in mid-September that US tariffs on refined copper imports might not proceed after all.