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    Overseas

    April 2, 2020

    CRU: Steel Prices Down as China Tries to Rebalance

    Written by George Pearson

    By CRU Prices Analyst George Pearson, from the CRU Steel Monitor

    As expected, sheet prices in the U.S. Midwest market have fallen. Prices today, reflective of transactions booked last week, fell by $13-26 /s.ton w/w. For all sheet prices, we continue to hear of lower priced offers and expect that transaction prices will continue to fall over the near term. HR coil prices fell $13 /s.ton to $548 /s.ton. Overall volume reported to us was just under the prior week, yet with data coming through from multiple buyers and mills, the market remains liquid. If we come across a week where liquidity is truly limited, we have provisions in our methodology to continue to assess a price.

    George Pearson

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