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    Overseas

    July 9, 2020

    CRU: Global Steel Prices Still Have Not Realigned

    Written by George Pearson

    By CRU Prices Analyst George Pearson, from CRU’s Steel Monitor

    Sheet prices in the U.S. Midwest market have fallen from their early June peak as end-user demand, although higher than April and May, remains historically low. Over the near term, sheet prices will fall further as demand is limited by weak underlying economic activity and seasonal pressure, while supply will increase and scrap costs fall. One key factor affecting market sentiment has been the return of idled blast furnaces.

    George Pearson

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