Overseas
June 14, 2020
CRU: European Steel Prices are Yet to Hit the Bottom
Written by George Pearson
By CRU Prices Analyst George Pearson, from CRU’s Steel Monitor
In the U.S. Midwest market this week, sheet prices were somewhat mixed with HR coil near steady w/w while HDG coil fell by $19 /s.ton to $650 /s.ton and CR coil inched up by $4 /s.ton to $697 /s.ton. Our full HDG coil price, reflecting a G90 zinc coating on .060” substrate, fell further, losing $27 /s.ton. This decline comes as the coating weight extra has been lowered to $60 /s.ton from $68 /s.ton after some mills have announced lower zinc extras, which reflect activity in the physical zinc market. Lead times for these products remain short, especially when compared to other periods where prices were rising from a bottom.
